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While US Spot Bitcoin ETFs See Modest Inflows, Ethereum ETFs Are Experiencing Large Outflows! Here are the Details

While US Spot Bitcoin ETFs See Modest Inflows, Ethereum ETFs Are Experiencing Large Outflows! Here are the Details

BitcoinsistemiBitcoinsistemi2024/08/01 08:06
By:Utku Yanık

Bitcoin ETFs reported a net inflow of $299,000, while spot Ethereum ETFs experienced significant outflows totaling $77.21 million.

On Wednesday, U.S. spot Bitcoin exchange-traded funds (ETFs) reported a net inflow of $299,000, while spot Ethereum ETFs experienced significant outflows totaling $77.21 million, according to SosoValue data.

U.S. Spot Bitcoin ETFs See Modest Inflows, While Ethereum ETFs See Significant Outflows

Among spot Bitcoin ETFs, only two reported net inflows. BlackRock's IBIT led the way with $20.99 million, followed by Grayscale Bitcoin Mini Trust, which recorded a net inflow of $18 million on its first day of trading.

 

In contrast, Fidelity's FBTC experienced significant outflows, leaving the fund with $31.57 million. While the ARKB fund managed by Ark and 21Shares saw a net outflow of $4.61 million, Bitwise's BITB recorded an outflow of $2.51 million. The remaining Bitcoin ETFs reported no net inflows or outflows.

Total trading volume of spot Bitcoin ETFs remained stable at $1.37 billion, the same as the previous day.

 
Related News Mt. Gox Moved Over 2 Billion Dollars of Bitcoin to an Unknown Address! Here are the Details

The situation was quite different for spot Ethereum ETFs, with a collective net outflow of $77.21 million.

Grayscale Ethereum Trust (ETHE) continued its streak of daily outflows since its debut on July 23, with the fund outflowing $133.33 million on Wednesday, making it the only Ethereum ETF to experience an outflow that day.

On the positive side, Grayscale Ethereum Mini Trust led the group with net inflows of $19.54 million. Fidelity's FETH followed with an inflow of $18.8 million, while BlackRock's ETHA and VanEck's ETHV attracted $4.98 million and $4.81 million, respectively.

Bitwise's ETHW and 21Shares' CETH also saw net inflows of $4.71 million and $3.28 million, respectively. Other Ethereum ETFs did not report any net inflows or outflows.

*This is not investment advice.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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