Spot Bitcoin exchange-traded funds (ETFs) in the US experienced significant outflows totaling $148.5 million, while spot Ethereum ETFs saw positive inflows of $98.3 million.
US Bitcoin ETFs Face Net Outflows of $148 Million While Ethereum ETFs Record $98 Million Inflows
On Tuesday, spot Bitcoin ETFs recorded a significant net outflow of $148.5 million. Fidelity's FBTC led the outflows with $64.48 million, followed by Grayscale's GBTC with $32.18 million, and Ark Invest and 21Shares' ARKB with $28.88 million.
Franklin Templeton's Bitcoin fund also faced a loss of $23 million. BlackRock's IBIT, the largest spot Bitcoin ETF by net asset value, reported no flows, along with seven other funds.
In contrast, spot Ethereum ETFs saw positive movement, with net inflows totaling $98.3 million. BlackRock's ETHA led inflows with $109.89 million, while Fidelity's FETH added $22.49 million. Grayscale's mini-trust saw inflows of $4.7 million and Franklin Templeton's Ethereum fund recorded inflows of less than $1 million.
Augustine Fan, Head of Insights at SOFA.org, provided context for the different trends: “To understand the differences between BTC ETFs and ETH ETFs, we need to put things in perspective.
“ETH has already seen heavy selling across sustained, spot and ETFs, so a small rebound is logical as risk sentiment improves slightly.”
Despite these inflows, Ethereum funds have seen net outflows of $363 million since their listing on July 23. $330.13 million worth of Ethereum funds were traded on Tuesday.
*This is not investment advice.