Based on the latest figures from Tuesday’s exchange-traded fund (ETF) trading sessions, the 12 spot bitcoin ETFs experienced another day of positive inflows, totaling $371.02 million. In contrast, the nine ethereum-based ETFs recorded outflows, with $12.7 million exiting the ether funds.
Bitcoin ETF Inflows Climb While Ethereum Funds Face a Day of Losses
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Bitcoin ETFs Pull in $371M While Ethereum Funds Drop by $12.7M
On Tuesday, Blackrock’s IBIT took the lead, bringing in $288.84 million in inflows, raising its total net inflows to $22.07 billion. Fidelity’s FBTC followed closely, accumulating $35.03 million during the trading session. Next, Ark Invest and 21shares’ ARKB drew in $14.68 million. Trailing IBIT, FBTC, and ARKB were Grayscale’s Bitcoin Mini Trust with $13.36 million, GBTC at $7.99 million, HODL at $7.56 million, and BTCW with $2.84 million.
The funds’ BRRR, BTCO, EZBC, and DEFI had a quiet day with no recorded gains or losses. The latest inflows pushed cumulative net gains since Jan. 11 to $19.73 billion. According to sosovalue.xyz, $3.05 billion was traded on Tuesday. As of Oct. 16, the 12 funds collectively hold $63.13 billion in bitcoin reserves, representing 4.8% of the cryptocurrency’s total market value.
Ethereum-based funds did not fare as well, with $12.7 million flowing out of the nine ETFs. Only Fidelity’s FETH saw positive action, absorbing $2.59 million on Tuesday. However, Grayscale’s ETHE offset this with $15.29 million in outflows. No other funds reported any activity in terms of inflows or outflows, according to sosovalue.xyz.
This loss adds to the cumulative net outflows recorded since July 23, now totaling $554.52 million after the $12.7 million outflow. Around $235.56 million was traded across the nine funds on Tuesday. As of Oct. 16, 2024, the nine funds collectively hold $7.1 billion in ether, accounting for 2.29% of ETH’s market capitalization.
What do you think about the latest crypto ETF action on Tuesday? Share your thoughts and opinions about this subject in the comments section below.
