The post Bitcoin ETFs Struggle with $149M Outflows as Ethereum ETFs Gain $98M Inflows appeared on BitcoinEthereumNews.com.

On August 6, the Bitcoin ETFs again incurred significant outflows while the Ethereum ETFs saw significant inflows. Spot On Chain, a famous on-chain analytics provider, mentioned that the cumulative outflows of BTC ETFs reached $149 million with ETH ETFs witnessing $98M in net inflows. The analytics firm took to its official x account to provide the details of these flows in the ETF sector. 🚨 US #ETF 06 AUG: 🔴$149M to $BTC and 🟢$98M to $ETH 🌟 BTC ETF UPDATE (final): -$149M • The net inflow has been negative for 3 consecutive days. • No US Bitcoin ETF saw an inflow yesterday. Especially, #Grayscale Mini (BTC) had the first $0 net flow ever. 🌟 ETH ETF… pic.twitter.com/j8FblWSJw9 — Spot On Chain (@spotonchain) August 7, 2024 Bitcoin ETFs See $149M in Outflows, Marking the Consecutive 3rd Day in Terms of Negative Flows In its latest X post, Spot On Chain noted that the majority of the BTC ETFs could not add inflows. In this respect, BlackRock (IBIT), Grayscale Mini (BTC), VanEck Mini (HODL), and Bitwise (BITB) saw zero flows. In addition to this, Valkyrie (BRRR), Invesco (BTCW), and WisdomTree (BTCO) also witnessed no flows at all. Moreover, Grayscale Mini has reportedly witnessed its first-ever day with net flows of $0 worth. Nonetheless, the rest of the BTC ETFs went through significant outflows. According to Spot On Chain, Franklin (EZBC) and ARK 21Shares (ARKB) experienced outflows of nearly $23M. Additionally, Grayscale (GBTC) and Fidelity (FBTC) also saw $64.5M in outflows. The respective outflows mark a continuation for a consecutive 3rd day. Keeping that in view, such continued negative flows raise concerns among the investors. The wider market dynamics as well as the regulatory uncertainties concerning have potentially contributed to this situation. In the case of Ethereum ETFs, 4 exchange-traded funds saw substantial…

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Filed under: News - @ August 7, 2024 5:16 pm