Bitcoin ETFs Attract $36M Inflows While Ethereum Funds Experience $15M Outflow
Mixed Results for Crypto ETFs: Bitcoin Gains $36M, Ethereum Drops $15M
Bitcoin ETFs Attract $36M Inflows While Ethereum Funds Experience $15M Outflow Recent data from sosovalue.xyz highlights a varied performance for U.S.-based bitcoin and ethereum spot exchange-traded funds (ETFs). On Friday, bitcoin ETFs saw an inflow of approximately $36 million, while ethereum ETFs faced a decline of $15 million.
Bitcoin ETFs Experience $36M Inflows, Ethereum Funds See $15M Outflow
Ethereum ETFs, particularly, continued to experience outflows, with a total of $15 million withdrawn, bringing the cumulative net outflows to $420.11 million as of August 16, 2024. Notably, Blackrock’s ETHA attracted $10.33 million in new investments, increasing its total to $977.62 million. Fidelity’s FETH also saw positive movement with $7.21 million in inflows.
Conversely, Grayscale’s ETHE faced substantial losses, with outflows of $27.74 million, resulting in a dramatic $2.41 billion in negative net flows since July 23. Vaneck’s ETHV also struggled, with $4.8 million in outflows. Other funds, including Grayscale’s Mini Ethereum Trust, ETHW, EZET, QETH, and CETH, reported no changes.
On the brighter side for bitcoin ETFs, twelve BTC-related funds collectively garnered $36.01 million, pushing their total net inflows to around $17.37 billion since January 11, 2024. Fidelity’s FBTC led with $61.35 million in new investments, followed by Blackrock’s IBIT with $20.39 million. Ark Invest’s and 21shares’ ARKB added $13.42 million, while Bitwise’s BITB brought in $12.04 million.
Franklin Templeton’s EZBC contributed $1.73 million. However, Grayscale’s GBTC encountered a setback, losing $72.9 million on Friday, bringing its total divestment to $19.65 billion. The Mini Bitcoin Trust, BTC, along with funds like HODL, BRRR, BTCO, BTCW, and DEFI, saw no significant changes. On that day alone, approximately $1.44 billion in bitcoin ETF volume was processed, with the twelve funds holding a combined $54.35 billion in BTC.
