The post BlackRock and Fidelity lead the ETF market despite multiple challenges appeared on BitcoinEthereumNews.com.

Bitcoin ETFs IBIT and FBTC excelled with over $10 billion in assets amid the market downturn. Ethereum ETFs struggled, facing cumulative outflows as Bitcoin and Ethereum prices declined. As the cryptocurrency market grapples with a broader downturn, Bitcoin [BTC] ETFs are not immune to the prevailing trends. Recent reports from Farside Investors reveal that BTC ETFs experienced significant outflows, amounting to $52.9 million on 2nd October. Balchunas highlights top performers However, amidst this challenging landscape, Eric Balchunas, a senior ETF analyst at Bloomberg, has identified two standout Bitcoin ETFs—BlackRock’s IBIT and Fidelity’s FBTC—as top performers of the 2020s. Both funds have achieved “stud level” status, boasting over $10 billion in Assets Under Management (AUM), highlighting their resilience and appeal to investors even in turbulent times. In his X (formerly Twitter) post, Balchunas noted,  Source: Eric Balchunas/X Echoing Balchunas’ sentiment, an X user added,  Source: Charles/X Blackrock’s and Fidelity’s Bitcoin ETFs analyzed This trend was further confirmed by data from Farside Investors, revealing that since its launch, BlackRock’s IBIT has amassed a staggering $21.5 billion in total inflows, while Fidelity’s FBTC has attracted $9.9 billion. These two ETFs have set the pace, leaving other funds trailing. However, October, traditionally viewed as an “Uptober” month following a declining September, has brought mixed results. On the 1st of October, IBIT experienced an inflow of $40.8 million, contrasting sharply with FBTC, which faced outflows of $144.7 million. IBIT recorded outflows of $13.7 million on the 2nd of October, while FBTC rebounded with inflows of $21.1 million, illustrating the volatility and shifting dynamics within the ETF landscape. Ethereum ETF performance Conversely, the performance of Ethereum [ETH] ETFs has also been underwhelming. On the 1st of October, cumulative outflows for ETH ETFs reached $48.6 million, with BlackRock’s ETHA experiencing no inflows or outflows, while Fidelity’s FETH…

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Filed under: News - @ October 4, 2024 5:08 am