Bitcoin ETFs see inflows, Ether funds continue outflow on third day

July 26, 2024
Border
2
Min
Bitcoin ETFs see inflows, Ether funds continue outflow on third day

Photo credit: Pierre Borthiry/Unsplash

US spot Bitcoin exchange-traded funds saw another day of net inflows, while the newly launched Ether ETFs failed to attract positive flows on their third trading day.

Only two out of the 11 Bitcoin funds saw flow activity on July 25, with the iShares Bitcoin Trust (IBIT), the largest BTC ETF in net assets, recording $70.75 million in net inflows, according to data from SoSoValue. However, positive flows into Blackrock’s fund were negated by the $39.59 million outflows from the Grayscale Bitcoin Trust (GBTC).

Only IBIT recorded net inflows on July 25 among the spot Bitcoin ETFs listed in the US (Source: SoSoValue).

In comparison, more Ether ETFs posted positive flows on their last trading day, led by the iShares Ethereum Trust (ETHA), with $70.93 million, followed by the Grayscale Ethereum Mini Trust ($58.09 million), data shows.

The Fidelity Ethereum Fund (FETH) and Bitwise Ethereum ETF (ETHW) also saw double-digit gains at $34.32 million and $16.34 million, respectively. Net inflows were also seen going into the Ether funds from VanEck ($8 million) and Invesco and Galaxy ($6.24 million), whereas Franklin Ethereum ETF didn’t see any flows on their last trading day.

The iShares Ethereum Trust outperforms the rest of the spot Ether funds (Source: SoSoValue).

However, the recorded inflows into the Ether funds were offset by outflows from the Grayscale’s recently-converted Ethereum Trust (ETHE), bringing its cumulative net outflow to $1.16 billion. Despite this, the fund still holds a net asset value of $7.12 billion.

As of July 25, investors have traded approximately $1.51 billion worth of Bitcoin ETFs and $955.85 million worth of Ether ETFs.

Read more: Ether ETFs end second trading day with $133M in outflows

Similar News

other News

Featured Offer
Unlimited Digital Access
Subscribe
Unlimited Digital Access
Subscribe
Close Icon