US Bitcoin ETFs See Modest Inflows as Ethereum ETFs Experience Significant Outflows

  • Spot Bitcoin ETFs in the United States recorded a daily net inflow of just $299,000 on Wednesday.
  • Conversely, spot Ethereum ETFs witnessed significant net outflows amounting to $77.21 million.
  • According to SosoValue data, BlackRock IBIT and Grayscale Bitcoin Mini Trust were the only two ETFs to register net inflows.

Explore the latest developments in spot Bitcoin and Ethereum ETFs, and understand the implications of trading volumes and net flows on cryptocurrency prices.

Spot Bitcoin ETFs Register Modest Inflows

On Wednesday, U.S. spot Bitcoin ETFs reported a daily net inflow of $299,000. Notably, BlackRock’s IBIT led with inflows totaling $20.99 million, while Grayscale Bitcoin Mini Trust—a new entrant—also showed strong performance with an $18 million net inflow.

ETF Performances Amid Market Dynamics

Despite the net inflows for certain ETFs, Fidelity’s FBTC witnessed a significant outflow of $31.57 million. Additionally, ARK and 21Shares’ ARKB, along with Bitwise’s BITB, recorded outflows of $4.61 million and $2.51 million, respectively. The total trading volume for spot Bitcoin ETFs remained stable at $1.37 billion, showing no change from Tuesday’s figures.

Spot Ethereum ETFs Experience Substantial Outflows

Contrary to Bitcoin ETFs, spot Ethereum ETFs saw massive net outflows amounting to $77.21 million on Wednesday. Grayscale Ethereum Trust alone accounted for $133.33 million in outflows, continuing its pattern of daily outflows since July 23.

Positive Inflows for Select Ethereum ETFs

Not all news was negative for Ethereum ETFs; Grayscale Ethereum Mini Trust led the positive inflow charts with $19.54 million. Other notable inflows included Fidelity FETH with $18.8 million, BlackRock ETHA with $4.98 million, and VanEck ETHV with $4.81 million. Bitwise’s ETHW and 21Shares’ CETH saw inflows of $4.71 million and $3.28 million, respectively. The total trading volume for all nine spot Ethereum ETFs fell to $472.5 million on Wednesday, down from $563.22 million on Tuesday.

Conclusion

The current market dynamics reflect mixed sentiments towards Bitcoin and Ethereum ETFs. While specific Bitcoin ETFs have shown resilience with notable inflows, Ethereum ETFs are experiencing substantial outflows, highlighting investor caution. These shifts signify the complexities and volatility inherent in the cryptocurrency markets, urging investors to conduct thorough research before making informed decisions.

BREAKING NEWS

Bitcoin Short by James Wynn at $116k with 40x Leverage Reaches $50k Unrealized Gain, Liquidation Price at $111,350

COINOTAG News, reporting on November 4, cites Hyperinsight data...

META (MetaDAO) Breaks Above $7, Surges 61.54% in 24 Hours on Solana Ecosystem

COINOTAG News, citing GMGN market data on November 4,...

Jupiter proposal passed to burn 130 million JUP tokens in Litterbox, accounting for ~4% of circulating supply.

Jupiter proposal passed to burn 130 million JUP tokens...

NASDAQ-Listed Forward Industries Files SEC Resale Prospectus for PIPE Shares as SOL Treasury Company Approves $1 Billion Stock Buyback

Forward Industries, a NASDAQ-listed SOL treasury company, announced that...

Ethereum (ETH) Bulls Fight Back as Trader Eugene Goes Long at Swing Low, Predicts Short Squeeze

COINOTAG News reported on November 4 that trader Eugene...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img