Significant inflows and outflows have been observed in Ethereum and Bitcoin ETFs in recent days. On Monday, spot Ethereum ETF trading volume increased significantly, while Bitcoin ETFs saw the interest of large institutional investors.
Recent developments in Ethereum and Bitcoin investment funds have clearly revealed the dynamics of the cryptocurrency market. As of August 12, 2024, spot Ethereum exchange-traded funds (ETFs) in the US saw net inflows of $4.9 million. This is a recovery from the last three days. Grayscale’s Ethereum Trust (ETHE) fund recorded net zero inflows for the first time on Monday after experiencing continuous outflows for 14 days since it was converted to an ETF. This suggests that investors are reconsidering their interest in cryptocurrencies.
Grayscale’s ETHE recorded zero inflows, while VanEck’s ETHV fund saw $2.92 million in outflows. This was the fund’s first outflow since July 23. However, Fidelity’s FETH fund saw $3.98 million in inflows, while Bitwise’s ETHW fund saw $2.86 million in inflows. Franklin’s EZET fund also drew attention with an inflow of around $1.01 million. The movements in these funds show that investors are turning to various strategies and have to adapt to the ever-changing structure of the market.
Total daily trading volume for spot Ethereum ETFs rose to $286 million on Monday, a significant increase from $166.9 million on Friday and indicating renewed investor interest in the cryptocurrency.
On the Bitcoin side, a bigger movement was observed. The 12 spot Bitcoin ETFs in the US recorded a net inflow of $27.87 million on Monday. Ark and 21Shares’ ARKB fund had the largest net inflow with $35.4 million, while BlackRock’s IBIT fund followed with a net inflow of $13.45 million. These developments show that large institutional investors are showing increasing interest in Bitcoin.
In contrast, Bitwise’s BITB and Grayscale’s GBTC funds saw outflows of $17.06 million and $11.77 million, respectively, suggesting that large funds remain interested in Bitcoin, but some investors are taking profits or rebalancing their portfolios.
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