On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) experienced an inflow of $38.94 million, while spot ether ETFs attracted $24.34 million.
Tuesdayâs Inflows Boost Spot Bitcoin and Ether ETFs
The positive momentum continued for spot bitcoin and ether ETFs on Tuesday, with both groups enjoying fresh inflows. Spot bitcoin ETFs raked in $38.94 million, led by Blackrockâs IBIT, which took the lionâs share with $34.55 million. Fidelityâs FBTC followed closely, collecting $22.56 million during the trading session. Bitwiseâs BITB secured $16.54 million, according to stats from sosovalue.xyz.
However, not all funds were in the green. Grayscaleâs GBTC saw a dip, shedding $28.65 million, while Ark Investâs and 21sharesâ ARKB lost $6.06 million. The latest $38.94 million gain brings the cumulative net inflows for all 12 ETFs to $17.40 billion, with the ETFs holding $55.34 billion in BTC, equivalent to 4.63% of BTCâs market cap.
Ethereum funds also had a good day, pulling in $24.34 million, although slightly less than their bitcoin counterparts. Blackrockâs ETHA led the pack, adding $49.12 million, bringing its ether holdings to nearly $1 billionâjust shy of that milestone. Fidelityâs FETH gained $5.41 million, while Invescoâs QETH added $813,690. The other funds had a neutral day, with no inflows or outflows.
Despite the gains, ETH ETFs remain in the red with a net outflow of $376.67 million since July 23. On Tuesday, $191.14 million was traded, and today, the nine ETH ETFs hold $7.65 billion in ETH, representing about 2.36% of ethereumâs market cap as of Aug. 14, 2024. Both BTC and ETH are on the rise in spot markets, with BTC up 3.73% and ETH up 3.61% in the past 24 hours.
What do you think about Tuesdayâs ETF action? Share your thoughts and opinions about this subject in the comments section below.
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