Spot Bitcoin ETFs Snap Outflow Trend With $28.72M Inflows; Ether ETFs Falter

Bitcoin ETFs Recover $28.72M in Inflows; Ether ETFs Shed $5.2M in Trading Session

Fidelity’s FBTC led the charge for bitcoin ETFs, bringing in a whopping $28.6 million in inflows. Bitwise’s BITB followed with $21.99 million, while Arkinvest’s and 21shares’ ARKB saw $6.81 million. Invesco and Galaxy’s BTCO added another $3.14 million to the positive mix on Monday, according to sosovalue.xyz stats.

But not everything was up. Grayscale’s GBTC and Blackrock’s IBIT saw the opposite, losing $22.76 million and $9.06 million, respectively. Despite these losses, the overall inflows since Jan. 11 now total $16.92 billion. As of Sept. 10, 2024, the 12 funds collectively hold a cool $51.31 billion in assets, accounting for 4.56% of bitcoin’s market cap.

The nine ether ETFs had a rougher day, with $5.2 million slipping away. Grayscale’s Ethereum Mini Trust managed to pull in $7.97 million, closely followed by $7.62 million from Fidelity’s FETH fund. Bitwise’s ETHW saw $1.85 million in gains, but it wasn’t enough to offset the hefty $22.64 million drop from Grayscale’s ETHE.

This $5.2 million loss brings ether ETFs’ cumulative net outflows since July 23 to $573.49 million. About $124.51 million worth of ether ETFs changed hands on Monday, while bitcoin ETFs dwarfed that activity with a hefty $1.61 billion in volume. As of Sept. 10, 2024, the nine ether ETFs hold $6.43 billion in value, representing 2.28% of ether’s total market cap.

What do you think about Monday’s spot ether and spot bitcoin ETF action? Share your thoughts and opinions about this subject in the comments section below.