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.
Tuesday’s 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 Blackrock’s IBIT, which took the lion’s share with $34.55 million. Fidelity’s FBTC followed closely, collecting $22.56 million during the trading session. Bitwise’s BITB secured $16.54 million, according to stats from sosovalue.xyz.
However, not all funds were in the green. Grayscale’s GBTC saw a dip, shedding $28.65 million, while Ark Invest’s and 21shares’ 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 BTC’s market cap.
Ethereum funds also had a good day, pulling in $24.34 million, although slightly less than their bitcoin counterparts. Blackrock’s ETHA led the pack, adding $49.12 million, bringing its ether holdings to nearly $1 billion—just shy of that milestone. Fidelity’s FETH gained $5.41 million, while Invesco’s 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 ethereum’s 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 Tuesday’s ETF action? Share your thoughts and opinions about this subject in the comments section below.
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!