Bitcoin ETFs Continue Outflow, Ethereum ETFs See Inflow
Spot Bitcoin ETFs in the U.S. had their second consecutive outflow day on Aug. 28, while spot Ethereum ETFs ended their nine-day outflow streak. This trend in fund movements reflects investors’ shifting interest in cryptocurrency assets.
Spot Bitcoin ETFs saw net outflows totaling $105.19 million. ARK 21Shares ARKB led the outflow with $59.3 million leaving the fund, following a $102 million outflow the previous day.
Fidelity’s FBTC registered net outflows of $10.4 million, and VanEck’s HODL saw $10.1 million in outflows. Bitwise’s BITB and Grayscale Bitcoin Mini Trust had negative flows of $8.7 million and $8.8 million, respectively.
Grayscale’s GBTC recorded the smallest outflows of $8 million, the lowest since mid-July. However, its total outflows have reached $19.75 billion. According to Coinglass data, Grayscale has seen a 60% reduction in its Bitcoin holdings in GBTC since its conversion into an ETF.
BlackRock’s IBIT has become the top Bitcoin ETF, holding around 357,736 BTC, worth approximately $22.2 billion, overtaking Grayscale’s position.
Spot Ether ETFs break 9-day outflow streak
Meanwhile, nine spot Ethereum ETFs collectively saw inflows of $5.84 million on Aug. 28, flipping the trend after nine consecutive days of outflows.
BlackRock’s ETHA and Fidelity’s FETH were the only funds with inflows, reporting $8.4 million and $1.3 million, respectively. Grayscale’s ETHE logged outflows of $3.8 million, with total outflows since launch at $2.55 billion.
Daily trading volume for these vehicles rose to $151.5 million on Aug. 28. Spot Ether ETFs have had a cumulative net outflow of $475.48 million to date. At the time of publication, Ethereum (ETH) was up 3.5%, trading at $2,544.
