The US crypto ETF market witnessed another shift in terms of flows on the 12th of September. As per a well-known on-chain analytics company Spot On Chain, Bitcoin ETFs experienced $39M in a positive inflow while Ethereum ETFs witnessed $20M in an outflow, expressing contrasting market developments. The analytics firm disclosed the details of the respective flows on its social media account.
US #ETF 12 SEP: $39M to $BTC and $20M to $ETH BTC ETF UPDATE (final): +$39M• The net flow bounced back to the positive side.• Yesterday’s flow volumes were relatively weak, with no US BTC ETFs exceeding $20M in flow volume. ETH ETF UPDATE (final): -$20M•… pic.twitter.com/aJDmSX7vHB
— Spot On Chain (@spotonchain) September 13, 2024
$ARKB Leads the Inflows in the Bitcoin ETF market with the Inclusion of $18.3 Million
In the case of Bitcoin ETFs, a positive rebound has taken place following a recent time of weak inflows. Hence, $39M in net inflows suggests a renewal of interest in the chief crypto token in terms of an investment vehicle. Particularly, institutional investors are turning to Bitcoin to a great extent. Out of 11 $BTC ETFs, 6 witnessed positive flows. ARK 21Shares ($ARKB) Led the Bitcoin ETF market by adding $18.3M.
Additionally, Fidelity ($FBTC) recorded $11.5M in inflows. Apart from that, Grayscale Mini ($BTC) saw a net inflow of nearly $5.2M. VanEck ($HODL) beheld $4.9M in inflows while Franklin ($EZBC) recorded an inflow of $3.4M. Moreover, Bitwise ($BITB) experienced $2.2M in inflows. The only Bitcoin ETF that went through an outflow was Grayscale ($GBTC), with $6.5M leaving it. However, Irrespective of the inflow, the overall volume has stayed slightly modest. In this respect, none of the $BTC ETFs went beyond the $20M level in inflows.
Ethereum ETFs Continue to Experience Outflow with $20M Leaving the Market
Contrarily, Ethereum ETFs keep on recording negative flows for the 2nd consecutive day. The total $ETH ETF outflow accounts for approximately $20M. VanEck ($ETHV) emerged as the only exchange-traded fund among the Ethereum ETFs witnessing outflows. Thus, $20.1M left the ETF in total on the 12th of this month. Other than this, none of the remaining 8 $ETH ETFs saw any flows at all.
This denotes a lack of latest investment into the respective products in the meantime. This could signify there is a reluctance among the investors to commit additional capital to $ETH ETFs. Otherwise, they are potentially waiting for vibrant market signals in advance of re-entering.
Keeping that in view, the recent statistics about the crypto ETF market mirror a contrasting investor sentiment. While Bitcoin ETFs see significant inflows that point toward a renewed interest, Ethereum ETFs are going through continued outflows that raise questions about investor confidence in the short term.
