The latest figures from U.S. spot bitcoin and ethereum exchange-traded funds (ETFs) reveal another contrasting shift. Bitcoin ETFs welcomed $192.56 million in inflows, while their ethereum counterparts saw around $2.87 million in net outflows.
US Bitcoin ETFs Soar With $192M Boost; Ethereum ETFs Record Modest Loss
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Blackrock’s IBIT Leads Inflow Gains
On Thursday, bitcoin and ether ETFs moved in opposite directions, with bitcoin funds posting gains and ether funds experiencing a modest decline. The 12 spot bitcoin ETFs recorded $192.56 million in net inflows on Aug. 8, with Blackrock’s IBIT leading the charge, securing $157.6 million. Hot on its heels was Wisdomtree’s BTCW, bringing in $118.52 million. Fidelity’s FBTC added $65.25 million, while Ark Invest’s and 21shares’ ARKB fund grew by $32.79 million.
Meanwhile, Vaneck’s HODL fund managed to attract $3.38 million during Thursday’s trading session. Five other funds had a neutral day, neither gaining nor losing. Grayscale’s GBTC, however, faced a loss of $182.94 million, and Hashdex’s DEFI spot bitcoin fund saw a reduction of about $2.03 million. The $192.56 million inflow boosts the funds’ cumulative net inflow since Jan. 11, 2024, which now totals $17.43 billion.
In contrast, ethereum ETFs experienced a different kind of day, recording losses, though the reduction was quite mild compared to previous outflows. Approximately $2.87 million exited the nine ether ETFs on Thursday, pushing the cumulative net inflow further into the negative at -$390.23 million. Data from sosovalue.xyz shows that $19.83 million left Grayscale’s ETHE, and Fidelity’s FETH saw a drop of $2.58 million. Blackrock’s ETHA fund, however, led in the opposite direction, absorbing $11.74 million.
Grayscale’s Mini Ethereum Trust, known as “ ETH,” pulled in around $5.02 million, and Bitwise’s ETHW fund added $2.78 million. Funds like ETHV, EZET, QETH, and CETH remained unchanged, with no gains or losses. As of the close of trading on Aug. 8, 2024, the nine ether funds collectively hold $7.25 billion, representing 2.35% of ETH’s total market cap.
What do you think about the action stemming from spot bitcoin and ether ETFs on Thursday? Share your thoughts and opinions about this subject in the comments section below.
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