US Spot BTC ETFs Record $299,000 in Total Inflows as ETH ETFs Incur $77 Million in Outflows

The US spot Bitcoin exchange-traded funds (ETFs) recorded a modest net inflow of $299,000, reflecting a relatively subdued interest in BTC investment products. The limited capital influx highlights a cautious market sentiment surrounding Bitcoin.

Conversely, Ethereum appears to be on the opposite side, recording slightly over $77 million in total outflows in the same period.

Bitcoin (BTC) and Ethereum (ETH) ETF Flows

Only two Bitcoin ETFs, BlackRock's IBIT and Grayscale's mini Bitcoin Trust, attracted additional investments. BlackRock IBIT led the pack with a noteworthy inflow of $20.99 million, while the recently launched Grayscale Bitcoin Mini Trust garnered $18 million in net inflows.

Notably, Grayscales's Bitcoin Mini Trust commenced trading on Wednesday, making its debut an opportune moment for attracting investor interest.

In stark contrast, the broader scene for Bitcoin ETFs witnessed outflows from several prominent funds, indicating a substantial withdrawal of capital. Fidelity's FBTC faced a significant outflow of $31.57 million.

Similarly, Ark and 21Shares' ARKB saw $4.61 million in outflows, while Bitwise's BITB recorded a net outflow of $2.51 million. Other Bitcoin ETFs saw negligible movement in their net flows, highlighting a period of relative stability.

Overall, trading volume across Bitcoin ETFs remained steady at $1.37 billion, mirroring the previous day's activity. The situation was markedly different in the Ethereum ETF sector, with substantial net outflows amounting to $77.21 million on the same day.

The Grayscale Ethereum Trust (ETHE) was particularly affected, continuing its pattern of daily outflows since its inception on July 23.

On Wednesday alone, ETHE saw $133.33 million in net outflows, representing a significant portion of the total outflows within the Ethereum ETF space. This persistent outflow trend reflects a broader withdrawal trend among investors in Ethereum-focused funds.

Other Ethereum ETFs Log Substantial Inflows

Despite the overall negative trend, several Ethereum ETFs managed to attract capital. The Grayscale Ethereum Mini Trust gained the most interest, with $19.54 million in total inflows. These positive flows demonstrate a strong investor appetite for this newer product.

Fidelity FETH followed with $18.8 million, while BlackRock ETHA and VanEck ETHV saw net inflows of $4.98 million and $4.81 million, respectively.

Additionally, Bitwise's ETHW received $4.71 million in net inflows, while 21Shares' CETH attracted $3.28 million. However, the remaining Ethereum ETFs reported no significant changes in their net flows.

Ether ETFs' trading volumes decreased from Tuesday's value of $563.22 million to $472.5 million. This drop explains the reduced engagement in Ethereum-related offerings among investors.

Meanwhile, the broader crypto market is taking the bearish path, having recorded a 2.33% decline over the past 24 hours. This decrease brings the total market cap to approximately $2.32 trillion.

The post US Spot BTC ETFs Record $299,000 in Total Inflows as ETH ETFs Incur $77 Million in Outflows appeared first on The Tech Report.