Ether ETFs Buck the Trend: How Much Did They Pull in While Bitcoin ETFs Struggled?

CN
4 hours ago

Thursday proved challenging for bitcoin ETFs, with no gains in sight, as half of the funds reported outflows. Fidelity’s FBTC took the hardest hit, losing $33.79 million, followed by Ark Invest and 21shares’ ARKB, which dropped $30.3 million. Grayscale’s Bitcoin Mini Trust was also among the top losers, shedding $20.16 million, while GBTC saw $18.52 million exit its coffers.

Rounding out the losses, Blackrock’s IBIT fell by $10.83 million, and Bitwise’s BITB followed with a $6.16 million decline. These outflows bring the total net inflows since Jan. 11 to $18.55 billion. According to sosovalue.xyz stats, $1.36 billion was traded among the 12 funds, which now collectively hold $55.15 billion in BTC, representing 4.67% of bitcoin’s market cap as of today, Oct. 11, 2024.

In contrast, ethereum ETFs had a positive day, pulling in a total of $3.06 million. The biggest winner was Blackrock’s ETHA, which brought in $17.85 million. Grayscale’s Ethereum Mini Trust followed with $3.34 million in inflows. However, not all ether funds saw gains—Grayscale’s ETHE lost $10.37 million, and Bitwise’s ETHW shed $4.23 million.

Additionally, Fidelity’s FETH saw a $3.54 million outflow. Despite Thursday’s modest increase, the nine ether ETFs have experienced cumulative net outflows of $558.79 million since July 23. Around $131.46 million was traded across these funds, which currently hold $6.47 billion in ETH reserves, accounting for 2.27% of ether’s total market cap.

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