U.S.-based spot bitcoin and ethereum exchange-traded funds (ETFs) both enjoyed a lift on Monday, with ETH ETFs pulling in $4.93 million while BTC ETFs attracted $27.87 million during the day’s trading.
Crypto ETF Market Sees Turnaround: Bitcoin and Ethereum Funds Net Inflows
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Crypto ETFs Make a Positive Comeback
On Aug. 12, 2024, both spot bitcoin ( BTC) and ethereum ( ETH) ETFs experienced inflows, marking a shift from the recent trend of outflows. According to data from sosovalue.xyz, ETH ETFs brought in $4.93 million, a modest amount compared to the hefty $401.01 million in outflows since July 23. Leading Monday’s charge was Fidelity’s FETH, pulling in $3.98 million, followed by Bitwise’s ETHW, which attracted $2.86 million.
Franklin Templeton’s EZET managed to secure $1.01 million, standing out as the only other fund with positive inflows. On the flip side, Vaneck’s ETHV was the sole loser of the day, shedding $2.92 million, while the remaining five ETFs saw no significant movement. In total, $285.96 million was traded on Monday, with ETH ETFs collectively holding $7.48 billion in ether reserves as of Aug. 13, 2024.
Sosovalue.xyz metrics show spot bitcoin ETFs also recorded gains, outpacing their ETH counterparts slightly. Ark Invest and 21shares’ ARKB led the way, amassing $35.4 million, with Blackrock’s IBIT close behind, gathering $13.45 million. Grayscale’s Mini Bitcoin Trust, tickered as “ BTC,” added around $7.85 million. However, the inflows were offset by outflows from Bitwise’s BITB and Grayscale’s GBTC, which saw $17.06 million and $11.77 million leave, respectively.
Funds including FBTC, HODL, BRRR, BTCO, EZBC, BTCW, and DEFI had a neutral trading day. Overall, the 12 funds collected $27.87 million, boosting the cumulative net inflows since Jan. 11, 2024, to $17.37 billion. Monday’s spot bitcoin ETFs traded at $1.3 billion in volume, and the 12 funds now hold $53.75 billion in BTC reserves, representing 4.63% of BTC’s total market cap.
What do you think about the spot bitcoin and ether ETF action on Monday? Share your thoughts and opinions about this subject in the comments section below.
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