US Bitcoin ETFs See Continued Positive Flow, While Ethereum Funds Struggle
On Tuesday, U.S. Bitcoin exchange-traded funds (ETFs) saw a notable influx, with $88.06 million in net inflows.
This marks the fourth straight day of gains for these funds. The top performer was BlackRock’s IBIT, which attracted $55.43 million. Ark Invest and 21Shares’ ARKB also saw significant investments, receiving $51.91 million.
Conversely, Grayscale’s GBTC experienced the largest outflow, losing $12.81 million, with Bitwise’s BITB following with $6.47 million in outflows. Other ETFs, including those from Fidelity and VanEck, reported no changes in their net flows.
The total trading volume for these Bitcoin ETFs was $1.35 billion on Tuesday, a rise from $779 million the previous day but still below the $5 to $8 billion range observed earlier this year. Since their introduction, these ETFs have gathered $17.52 billion in net inflows.
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Bitcoin (BTC) Mining Costs Soar Amid Rapid GrowthIn contrast, spot ether ETFs faced a challenging day, with a total of $6.49 million in outflows. This was their fourth consecutive day of negative flows. Grayscale’s ETHE saw the largest decrease at $36.99 million, while BlackRock’s ETHA and Bitwise’s ETHW saw modest inflows of $26.77 million and $3.73 million, respectively.
Trading volume for ether ETFs reached $194.66 million, down from the $900 million to $1 billion range seen in their debut week. Overall, these ether funds have experienced $440.11 million in net outflows to date.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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