Spot Bitcoin ETF Outflows
Spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced negative flows on Tuesday, totaling $148.5 million in net outflows.
According to data from SoSoValue, Fidelity’s FBTC led outflows among 12 bitcoin funds yesterday, with $64.48 million. Grayscale’s converted GBTC fund reported $32.18 million in outflows, while Ark Invest and 21Shares’ ARKB logged $28.88 million in net outflows. Franklin Templeton’s Bitcoin fund also lost $23 million on Tuesday.
BlackRock’s IBIT, the largest spot bitcoin ETF by net asset value, reported zero flows, along with seven others.
On Tuesday, $2.2 billion worth of funds were traded in spot bitcoin ETFs. Since their launch in January, the 12 funds have accumulated a total net inflow of $17.19 billion.
Spot Ether ETFs Experience Inflows
In contrast, spot Ethereum ETFs recorded net inflows on Tuesday, totaling $98.3 million in daily positive flow.
The largest inflows came from BlackRock’s ETHA with $109.89 million, while Fidelity’s FETH saw $22.49 million and Grayscale’s mini trust recorded $4.7 million. Franklin Templeton’s ether fund saw under $1 million in inflows.
Augustine Fan, Head of Insights at SOFA.org, noted, “We need to put things in perspective to understand the differences between BTC ETFs and ETH ETFs.” He pointed out that changes in market sentiment affect both assets differently.
A total of $330.13 million in ether funds were traded yesterday, and the funds have experienced $363 million in net outflows since the July 23 listing.
Both bitcoin and ether showed signs of recovery from Monday’s market downturn, with bitcoin rising by 2.61% to $57,060, and ether increasing by 1.25% to $2,522 in the past 24 hours.
Fan added, “The overall direction of crypto will move along with how tech stocks and risk appetite behave in the near term, which we expect to be muted.” He suggested that confidence in the U.S. economy and external economic events would be crucial for a positive trend moving forward.
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