There’s been some interesting action in the world of ETFs recently. On Wednesday, U.S. spot Bitcoin ETFs barely moved the needle, recording just $299,000 in net inflows. Not exactly a blockbuster day for Bitcoin ETFs, but hey, any positive move is better than nothing, right?
On the other hand, Ethereum ETFs had a rough day. They saw a whopping $77.2 million in net outflows. Ouch! This comes after a relatively positive day where they pulled in $33.6 million. What’s going on here?
Among the Bitcoin ETFs, only two saw net inflows: BlackRock’s IBIT with $20.99 million and the Grayscale Bitcoin Mini Trust with $18 million. The rest, including big names like Fidelity and Ark, saw outflows, with Fidelity’s FBTC losing $31.57 million. Overall, trading volume for Bitcoin ETFs stayed steady at $1.37 billion.
Now, about those Ethereum ETFs. The Grayscale Ethereum Trust (ETHE) has been bleeding outflows daily since its debut on July 23, hitting $133.33 million in net outflows on Wednesday alone. That’s the only spot ether fund in the group to see such outflows.
But it’s not all bad news for Ethereum. The Grayscale Ethereum Mini Trust led the positive side with $19.54 million in inflows, followed by Fidelity’s FETH with $18.8 million and BlackRock’s ETHA with $4.98 million. The total trading volume for these nine spot ether ETFs was $472.5 million, down from $563.22 million the previous day.
So, while Bitcoin ETFs are having a quiet moment, Ethereum ETFs are dealing with a rollercoaster of inflows and outflows. Keep an eye on these trends, as they might signal bigger movements in the crypto market ahead.
