Home » Bitcoin » US Bitcoin ETFs See Continued Positive Flow, While Ethereum Funds Struggle

US Bitcoin ETFs See Continued Positive Flow, While Ethereum Funds Struggle

21.08.2024 17:00 1 min. read Alexander Stefanov
SHARE: SHARES
US Bitcoin ETFs See Continued Positive Flow, While Ethereum Funds Struggle

On Tuesday, U.S. Bitcoin exchange-traded funds (ETFs) saw a notable influx, with $88.06 million in net inflows.

This marks the fourth straight day of gains for these funds. The top performer was BlackRock’s IBIT, which attracted $55.43 million. Ark Invest and 21Shares’ ARKB also saw significant investments, receiving $51.91 million.

Conversely, Grayscale’s GBTC experienced the largest outflow, losing $12.81 million, with Bitwise’s BITB following with $6.47 million in outflows. Other ETFs, including those from Fidelity and VanEck, reported no changes in their net flows.

The total trading volume for these Bitcoin ETFs was $1.35 billion on Tuesday, a rise from $779 million the previous day but still below the $5 to $8 billion range observed earlier this year. Since their introduction, these ETFs have gathered $17.52 billion in net inflows.

In contrast, spot ether ETFs faced a challenging day, with a total of $6.49 million in outflows. This was their fourth consecutive day of negative flows. Grayscale’s ETHE saw the largest decrease at $36.99 million, while BlackRock’s ETHA and Bitwise’s ETHW saw modest inflows of $26.77 million and $3.73 million, respectively.

Trading volume for ether ETFs reached $194.66 million, down from the $900 million to $1 billion range seen in their debut week. Overall, these ether funds have experienced $440.11 million in net outflows to date.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

Telegram

SHARE: SHARES
More Bitcoin News
No Comments yet!

Your Email address will not be published.