Spot Bitcoin ETFs See $11.1M Inflows Amidst Turbulent Week for Ethereum ETFs

• On Thursday, U.S. spot Ethereum ETFs witnessed a net outflow of $39.2 million, while spot Bitcoin ETFs reported a net inflow of $11.1 million.
• This shift in capital marked the end of a three-day positive inflow streak for Ethereum ETFs, with notable movements in various funds.
• “Grayscale Ethereum Trust experienced a significant outflow of $42.52 million,” according to data from SosoValue.

Comprehensive analysis of the latest movements in ETH and BTC ETFs, shedding light on the shifting dynamics within the cryptocurrency investing sphere.

Major Outflow Recorded in Ethereum ETFs

Thursday saw U.S. spot Ethereum ETFs register a notable outflow of $39.2 million, concluding a three-day streak of gains. Particularly, the Grayscale Ethereum Trust faced substantial outflows totaling $42.52 million as reported by SosoValue. This made it the only Ethereum ETF to record outflows on that day.

Impact on Altcoins and Other Funds

The net outflow in Ethereum ETFs had a detrimental effect on altcoins, reflecting a broader market sentiment. The Grayscale Ethereum Mini Trust did not report any flow after recording $2.26 million in net inflows the previous day. Meanwhile, Fidelity’s FETH saw a modest net inflow of $2.54 million, and BlackRock’s ETHA recorded $770,350 in new investments.

Bitcoin ETFs Show Resilience with Positive Inflows

Conversely, U.S. spot Bitcoin ETFs demonstrated resilience with a net inflow of $11.1 million on Thursday, a significant recovery from the net outflow of $81.36 million recorded the previous day. BlackRock’s IBIT saw no activity after consistent inflows earlier in the week, including $2.68 million on Wednesday and $34.55 million on Tuesday.

Highlights from Leading Bitcoin Funds

The biggest contributor to the day’s Bitcoin ETF inflow was Fidelity’s FBTC with $16.25 million. It was followed by the Grayscale Mini Trust, which reported a net inflow of $13.66 million, and Bitwise’s BITB with $6.23 million. The total trading volume for these Bitcoin ETFs surged to $1.79 billion on Thursday, up from $1.3 billion the previous day, indicating increased market activity.

Conclusion

Thursday’s market movements highlighted a clear divergence between Ethereum and Bitcoin ETFs. While Ethereum funds saw a significant pullback, Bitcoin funds managed to attract new investments. Investors should carefully monitor these dynamics and consider conducting their due diligence before making any investment decisions.