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Bitcoin ETFs Net $39M Inflows, Ethereum ETFs Outflows Led Solely by Grayscale

CCNCCN2024/09/14 03:54
By:CCN
Key Takeaways
  • Grayscale’s primary BTC and ETH fund outflows total over $22 billion.
  • All other ETH and BTC ETF cumulative flows are in the green.
  • Grayscale’s “Mini” BTC and ETH funds have combined cumulative inflows of just over $600 million.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have seen mixed results as the crypto markets begin to show signs of positivity this week.

Bitcoin ETFs

Data provided by SoSoValue shows that Bitcoin ETFs are returning to form, posting a solid $39.02 million in net inflows on Sept. 12, 2024.

The development comes as BTC’s price begins to show signs of recovery as it tries to push above $58,000.

Bitcoin ETF flows. Source: SoSoValue

Leading today’s gainers is the ARK 21Shares Bitcoin ETF (ARKB), which bagged $18.34 million.

It’s not quite enough to make up for the brutal losses it suffered throughout Aug., but it’s a solid inflow for a fund that has performed pretty well with $2.25 billion cumulative net inflows.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) posted a cool $11.47 million in net inflows, raising its cumulative net inflows to $10 billion. It nearly hit that mark at the end of July.

However, the market woes of August clipped its wings at $9.99 billion, and its cumulative net inflows now sit at $9.54 billion.

Grayscale’s Mini Bitcoin Trust netted a modest $5.18 million, as did the VanEck Bitcoin ETF (HODL), which had $4.95 million in net inflows.

Other gainers include the Franklin Templeton Digital Holdings Trust (EZBC), posting $3.31 million in net inflows, and the Bitwise Bitcoin ETF (BITB), which attracted $2.22 million.

Predictably, the Grayscale Bitcoin Trust (GBTC) suffered yet another day of outflows, shedding $6.51 million from its fund.

Having not seen a single day of inflows since July 22, GBTC cumulative outflows now stand at $20.05 billion.

Ethereum ETFs

As per data from SoSoValue, Ethereum ETFs recorded net outflows of $20.14 million on Sept. 12, marking day two of consecutive outflows.

Ethereum ETF flows. Source: SoSoValue

However, it’s not all bad news.

Maybe only for just one fund, the Grayscale Ethereum Trust, which posted $20.14 million in net outflows. This brings its cumulative net outflow to an astonishing $2.71 billion.

It’s unfortunate for the charts as Grayscale’s failure in the ETH ETF market is the primary driver behind a majority of the daily red candles.

However, with all this considered, it’s also a sign that Ethereum ETFs are performing pretty well.

All other eight funds posted neutral flows and have been running mostly positive or neutral since their launch on July 23, 2024.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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