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Bitcoin ETFs gain $12.9M as Ethereum ETFs lose $9.51M in value

GrafaGrafa2024/09/18 05:45
By:Isaac Francis

Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) experienced a strong performance on Monday, accumulating $12.9 million in gains.

Meanwhile, Ethereum (CRYPTO:ETH) ETFs had a challenging session, losing $9.51 million across nine different funds.

This divergence between Bitcoin and Ethereum ETFs highlights contrasting investor sentiment and market dynamics for these two leading cryptocurrencies.

Among the 12 Bitcoin ETFs, Blackrock's IBIT led the gains with an inflow of $15.82 million, bringing its total net inflows since January 11, 2024, to $20.92 billion.

Fidelity’s FBTC followed closely with a $5.06 million increase, and Franklin Templeton’s EZBC added $5.04 million.

Other funds, such as Vaneck’s HODL and Grayscale’s Bitcoin Mini Trust, contributed $4.91 million and $2.82 million, respectively.

However, Grayscale’s GBTC experienced significant outflows, with $20.75 million withdrawn, partially offsetting the overall gains.

Overall, the 12 Bitcoin ETFs have accumulated $17.31 billion in net inflows since their launch, reflecting ongoing investor interest in Bitcoin-related financial products despite outflows in specific funds.

On the other hand, Ethereum ETFs faced difficulties.

Grayscale’s ETHE recorded the most significant loss, with $13.83 million withdrawn, followed by Bitwise’s ETHW, which saw a $2.13 million outflow.

However, not all Ethereum ETFs experienced negative trends.

Blackrock’s ETHA and Grayscale’s Ethereum Mini Trust reported inflows of $4.16 million and $2.29 million, respectively.

The overall outflows of $9.51 million in Ethereum ETFs have pushed cumulative net outflows to $590.73 million since July 23.

The nine Ethereum funds collectively hold $6.22 billion in ETH, representing 2.27% of Ethereum’s market cap.

In contrast, the 12 Bitcoin ETFs control $52.57 billion in BTC, equating to 4.61% of Bitcoin's total market value.

At the time of reporting, the Ethereum (ETH) price was $2,322.79, and the Bitcoin (BTC) price was $60,342.52.

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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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