Based on the latest data, spot bitcoin exchange-traded funds (ETFs) experienced net outflows of $148.56 million on Tuesday. Conversely, spot ether ETFs saw a positive inflow of $98.30 million during the same period.
US Bitcoin ETFs Bleed $148.56M While Ethereum ETFs Cash In
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
$148M Vanishes From Bitcoin ETFs While Ethereum ETFs Rake in $98M
On Aug. 6, as the crypto market began to recover from the substantial decline on Aug. 5, bitcoin ETFs experienced a notable amount of outflows while ether ETFs recorded gains. The 12 spot bitcoin ETFs saw $148.56 million exit the funds, with Fidelity’s FBTC leading the losses by shedding $64.48 million on Tuesday. Grayscale’s Bitcoin Trust (GBTC) followed closely, losing $32.18 million, bringing its total divestment since Jan. 11, 2024, to $19.16 billion.
After FBTC and GBTC, Ark Invest’s and 21shares’ ARKB experienced a reduction of $28.18 million. Franklin Templeton’s EZBC also faced losses, divesting $23.01 million. Meanwhile, eight of the spot bitcoin ETFs had a neutral day, with no inflows or outflows recorded. The losses on Tuesday reduced the BTC ETFs’ cumulative net inflows to $17.19 billion since Jan. 11. Collectively, the 12 funds now hold $51.47 billion in assets, representing 4.61% of bitcoin’s market cap.
Ethereum ETFs outperformed the spot bitcoin funds on Tuesday, with the nine ether ETFs collectively attracting $98.30 million. Blackrock’s ETHA led the gains, bringing in $109.89 million, while Fidelity’s FETH saw an increase of $22.49 million. Grayscale’s Mini Ethereum Trust ( ETH) added $4.7 million, and Franklin Templeton’s EZET achieved a more modest gain of $950,330 during the trading sessions, according to sosovalue.xyz metrics.
Grayscale’s ETHE was the sole fund to experience outflows, with $39.73 million in net outflows on Tuesday. Despite the inflows, the cumulative net inflow only saw a slight increase and remains in the negative for the nine funds, currently down by $363.68 million. During yesterday’s trading session, $330.13 million was settled, and the funds now hold approximately $7.06 billion in ETH reserves, accounting for 2.36% of ether’s total market cap.
What do you think about the spot bitcoin and ether ETF action on Tuesday? Share your thoughts and opinions about this subject in the comments section below.
Bitcoin.com News is seeking a News Writer to produce daily content on cryptocurrency, blockchain, and the digital currency ecosystem. If you are interested in becoming a key member of our innovative global team, apply here.
