Fidelity Leads Bitcoin ETF Surge, While Ethereum Funds Plummet

Yesterday, Bitcoin ETFs had a mixed day, seeing a total of $4.5 million in overall activity.

Fidelity’s FBTC fund was the biggest gainer, pulling in $24.9 million, followed by BlackRock’s IBIT, which brought in $11.5 million. Grayscale’s smaller Bitcoin fund also added $8.4 million.

However, these gains were overshadowed by a $40.3 million exit from Grayscale’s GBTC, one of the largest Bitcoin ETFs, effectively wiping out the positive flows. Other prominent funds, such as Bitwise, Ark, and Invesco, remained stagnant with no changes reported.

In contrast, Ethereum ETFs saw a sharp decline, losing a combined $79.3 million. Grayscale’s ETHE fund accounted for the majority of the losses, with $80.6 million in outflows, signaling a shift in investor mood.

Bitwise’s ETHW fund was the only one that recorded any gains, adding $1.3 million, while other Ethereum-focused funds from major players like BlackRock, Fidelity, and VanEck saw no activity.

The varying trends in Bitcoin and Ethereum ETFs point to ongoing instability in the market, with Bitcoin funds drawing some interest, while Ethereum products, particularly from Grayscale, faced heavy withdrawals.