Bitcoin

Ethereum

<p>On August 6, the <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs again incurred significant outflows while the Ethereum ETFs saw significant inflows. Spot On Chain, a famous on-chain analytics provider, mentioned that the cumulative outflows of BTC ETFs reached $149 million with ETH ETFs witnessing $98M in net inflows. The analytics firm took to its official x account to provide the details of these flows in the ETF sector.</p><h2 id="header-0">Bitcoin ETFs See $149M in Outflows, Marking the Consecutive 3rd Day in Terms of Negative Flows</h2><p>In its latest X post, Spot On Chain noted that the majority of the BTC ETFs could not add inflows. In this respect, BlackRock (IBIT), Grayscale Mini (BTC), VanEck Mini (HODL), and Bitwise (BITB) saw zero flows. In addition to this, Valkyrie (BRRR), Invesco (BTCW), and WisdomTree (BTCO) also witnessed no flows at all. Moreover, Grayscale Mini has reportedly witnessed its first-ever day with net flows of $0 worth.</p><p>Nonetheless, the rest of the BTC ETFs went through significant outflows. According to Spot On Chain, Franklin (EZBC) and ARK 21Shares (ARKB) experienced outflows of nearly $23M. Additionally, Grayscale (GBTC) and Fidelity (FBTC) also saw $64.5M in outflows. The respective outflows mark a continuation for a consecutive 3rd day. Keeping that in view, such continued negative flows raise concerns among the investors. The wider market dynamics as well as the regulatory uncertainties concerning have potentially contributed to this situation.</p><p>In the case of Ethereum ETFs, 4 exchange-traded funds saw substantial inflows. BlackRock (ETHA) led the market with net inflows of up to $109.9M. Fidelity (FETH) experienced $22.5M in terms of inflows. Grayscale Mini (ETH) and Franklin (EZET) followed by adding $4.7M and $1M in net inflows. However, 4 other ETH ETFs did not record any flows at all, including VanEck (ETHV), Bitwise (ETHW), 21Shares (CETH), and Invesco (QETH).</p><h2 id="header-1">ETH ETFs Experience Positive Flows for the 2nd Consecutive Day with Grayscale Witnessing the ATL Outflows</h2><p>The only ETH ETF that incurred outflows was Grayscale (ETHE). The exchange-traded fund’s outflows reached $39.7M in total on the 6th of August. According to <a href="https://spotonchain.com/" rel="noopener noreferrer nofollow">Spot On Chain</a>, Grayscale’s new outflow denotes a latest all-time low level. The overall flows of ETH ETFs have had a positive outlook for two consecutive days.</p>

Bitcoin ETFs Struggle with $149M Outflows as Ethereum ETFs Gain $98M Inflows

Table of Contents

BlockchainReporter

Other articles published on Aug 7, 2024

A Jump into How to Make Money While Crypto Is Down With ATOM's Potential and the Best Crypto Pres...

Gitcoin Grants 21 launches with Arbitrum and Celo ecosystem rounds

Trust Wallet Launches Quest Platform and Points System To Reward and Educate Users

Nekodex Launches Crypto Spot Trading Using Chain Abstraction and More

Nekodex Launches Crypto Spot Trading Using Chain Abstraction and More

Ethena Labs Brings USDe to Solana for Enhanced Stability

Join our free newsletter for daily crypto updates!