Recent data from U.S.-based bitcoin and ethereum spot exchange-traded funds (ETFs) collected by sosovalue.xyz reveal a mixed bag for these popular assets. On Friday, bitcoin ETFs added around $36 million, while ethereum funds experienced a $15 million dip.
Bitcoin ETFs See $36M Inflows as Ethereum Funds Shed $15M
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Mixed Results for Crypto ETFs: Bitcoin Gains $36M, Ethereum Drops $15M
Ether ETFs, in particular, saw further outflows, with ETH funds shedding another $15 million, pushing total net outflows to $420.11 million as of Aug. 16, 2024. Among these, Blackrock’s ETHA stood out, soaking up $10.33 million in inflows and bringing its total to an impressive $977.62 million. Fidelity’s FETH was the only other fund to report gains, pulling in $7.21 million.
Unfortunately, Grayscale’s ETHE weighed heavily on the sector, seeing outflows of about $27.74 million. Since July 23, ETHE’s negative net flows have plummeted to $2.41 billion. Vaneck’s ETHV also had a rough day, offloading $4.8 million. No movement was recorded for Grayscale’s Mini Ethereum Trust, ETHW, EZET, QETH, or CETH.
Meanwhile, the bitcoin ETFs had a brighter day as 12 BTC-related funds collectively brought in $36.01 million, driving cumulative net inflows to approximately $17.37 billion since Jan. 11, 2024. Fidelity’s FBTC led the charge, gathering $61.35 million, with Blackrock’s IBIT not far behind, posting $20.39 million in gains. Ark Invest’s and 21shares’ ARKB added $13.42 million, while Bitwise’s BITB attracted $12.04 million.
Franklin Templeton’s EZBC chipped in with $1.73 million. However, it wasn’t all smooth sailing, as Grayscale’s GBTC took a hit, losing $72.9 million on Friday. To date, GBTC has divested a staggering $19.65 billion. The Mini Bitcoin Trust, dubbed “ BTC,” and others like HODL, BRRR, BTCO, BTCW, and DEFI, all remained neutral. On that day alone, roughly $1.44 billion in bitcoin ETF volume was settled, with the 12 funds now holding $54.35 billion in BTC.
What do you think about Friday’s crypto ETF trading action? Share your thoughts and opinions about this subject in the comments section below.
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