Spot Bitcoin and Ethereum exchange-traded funds in the United States have recorded poor results this week as bears dominate market sentiment.
According to data from Farside Investors, spot Bitcoin (BTC) ETFs saw a net inflow of around $300,000 yesterday. BlackRock’s iShares Bitcoin Trust (IBIT) continued its streak with $21 million in inflows and no outflows for three months.
On July 31, Grayscale launched its spot Bitcoin Mini Trust (BTC) on NYSE Arca, registering $18 million in inflows on its first day. However, outflows from Fidelity’s FBTC, Bitwise’s BITB, and Ark 21Shares’ ARKB, totaling $38.7 million, neutralized these gains.
Spot Ethereum (ETH) ETFs recorded $77.2 million in net outflows on July 31, mainly due to $133.3 million flowing out of Grayscale’s ETHE fund. Since its July 23 launch, ETHE has seen $1.97 billion in net outflows.
Conversely, Grayscale’s Mini ETH fund saw $19.5 million in inflows, followed by Fidelity’s FETH with $18.8 million. BlackRock’s ETHA fund reported $5 million in inflows. VanEck’s ETHV, Bitwise’s ETHW, and Ark 21Shares’ CETH ETFs posted $4.8 million, $4.7 million, and $3.3 million in inflows, respectively. Invesco’s QETH and Franklin Templeton’s EZET remained unchanged.
The bearish mood around spot BTC and ETH ETFs mirrors a broader crypto market downturn. CoinGecko data indicates a 3.1% drop in global crypto market capitalization, now at $2.41 trillion.
Bitcoin fell 3.2% in the last 24 hours, trading at $64,275, while Ethereum dropped 4.6%, currently priced at $3,170.
