Crypto ETFs Take a Hit: Fidelity and Grayscale Lead Losses

CN
5 hours ago

On Nov. 15, U.S. spot bitcoin exchange-traded funds (ETFs) recorded a trading volume of $3.62 billion but took a $370.10 million hit. None of the funds finished the day in positive territory, with Fidelity’s FBTC suffering the steepest loss at $175.11 million. Close behind, Ark Invest and 21shares’ ARKB fund dropped $108.58 million, while Grayscale’s Bitcoin Mini Trust ranked third with a $47.04 million dip.

Grayscale’s GBTC saw $22.54 million shaved off, Vaneck’s HODL let go of $7.72 million, and Bitwise’s BITB trimmed $7.44 million. Valkyrie’s BRRR fund wrapped up the losses with $1.67 million. Meanwhile, the remaining funds had a flat day, neither gaining nor losing. The $370.10 million decrease now pegs cumulative net inflows since Jan. 11, 2024, at $27.46 billion, as reported by sosovalue.com.

Ether ETFs didn’t escape the red either, logging $529.89 million in trading volume while shedding $59.87 million. Grayscale’s ETHE absorbed the biggest blow, dropping $40.30 million, followed by Fidelity’s FETH, which gave up $18.44 million, and Vaneck’s ETHV, down by $1.12 million. The other five ether funds remained unchanged. With the $59.87 million pullback, net inflows since their July 23 launch this year now stand at $178.40 million.

The nine ethereum ETFs collectively hold $9.17 billion in ether reserves, equivalent to about 2.46% of ether’s total market cap, according to sosovalue.com. Meanwhile, the 12 spot bitcoin ETFs boast an impressive $94.12 billion in BTC reserves. With billions in reserves at stake, the ongoing performance of these funds highlights their integral role in bridging traditional finance and digital assets, while their resilience or recovery could significantly influence broader investor sentiment in the months ahead.

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