On Thursday, U.S. spot Ethereum ETFs saw a $39.21 million outflow, ending a three-day streak of positive inflows.
The Grayscale Ethereum Trust (ETHE) experienced the largest outflow of $42.52 million. It was the only Ethereum ETF to report a decrease in assets that day, according to Farside data.
Meanwhile, the Grayscale Ethereum Mini Trust saw no movement, having had modest inflows of $2.26 million the previous day. Fidelity’s FETH saw $2.54 million in inflows, and BlackRock’s ETHA received $770,350. Other Ethereum ETFs reported no changes.
The total trading volume for Ethereum ETFs reached $240.58 million, an increase from the previous days.
On the flip side, spot Bitcoin ETFs in the U.S. had a positive day with $11.11 million in inflows, reversing the previous day’s outflows of $81.36 million.
BlackRock’s IBIT saw no new flows, following inflows on the two preceding days. Grayscale’s GBTC was the only Bitcoin ETF to see outflows, with $25.03 million exiting. Fidelity’s FBTC led with $16.25 million in inflows, followed by Grayscale Mini Trust and Bitwise’s BITB with $13.66 million and $6.23 million, respectively.
Bitcoin ETF trading volume hit $1.79 billion, up from $1.3 billion the day before.
Tether’s USDT, the largest stablecoin, continues to strengthen its market position, with its market capitalization nearing $120 billion for the first time.
The competition in Bitcoin (BTC) mining has escalated recently, with China taking the lead over the United States.
A cryptocurrency investor earned $131.72 million by buying Ether during the 2022 market downturn and holding onto it through two years of market uncertainty.
Alphractal, a cryptocurrency analysis firm, has voiced concerns about Bitcoin’s current market trajectory, suggesting it may be on the verge of entering a bear market phase.