While Outflows Continue in Spot Bitcoin Exchange Traded Funds (ETFs) in the USA, Positive Inflows Have Been Seen in Ethereum ETFs! Here are the Details
The post While Outflows Continue in Spot Bitcoin Exchange Traded Funds (ETFs) in the USA, Positive Inflows Have Been Seen in Ethereum ETFs! Here are the Details appeared on BitcoinEthereumNews.com.
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. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/while-outflows-continue-in-spot-bitcoin-exchange-traded-funds-etfs-in-the-usa-positive-inflows-have-been-seen-in-ethereum-etfs-here-are-the-details/
Filed under: News - @ August 8, 2024 12:26 pm