Bitcoin ETF

Bitcoin

Spot

The U.S. market for spot <a href="https://thecoinrise.com/record-outflows-for-bitcoin-etfs-in-the-u-s-as-btc-falls-below-60k/" rel="noopener noreferrer nofollow">Bitcoin exchange-traded funds (ETFs) experienced notable outflows</a> on Tuesday, with a total of $148.5 million being withdrawn. This aligns with the ongoing volatility in the broader crypto market.
Data from SoSoValue <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">reveals</a> that Fidelity’s FBTC led the outflows among twelve Bitcoin funds, with a significant $64.48 million being pulled out. Grayscale’s GBTC, which was recently converted to an ETF, saw $32.18 million in outflows.
Other notable funds, including Ark Invest and 21Shares’ ARKB, reported net outflows of $28.88 million, while Franklin Templeton’s Bitcoin fund lost $23 million on the same day. Interestingly, BlackRock’s IBIT, which is the largest spot Bitcoin ETF by net asset value, reported zero flows, along with seven other funds.
<h2 id="span-style-font-weight-400-large-activity-amid-bitcoin-price-recovery-span">Large Activity Amid Bitcoin Price Recovery</h2>
Tuesday’s trading volume in spot Bitcoin ETFs amounted to a hefty $2.2 billion. Despite the recent outflows, the twelve funds launched in January have managed to accumulate a total net inflow of $17.19 billion.
Meanwhile, Bitcoin is <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">trading</a> around $57,000 on Wednesday and all eyes are on how these spot BTC ETFs will perform today.&nbsp;
<h2 id="span-style-font-weight-400-ether-etfs-show-positive-inflows-span">Ether ETFs Show Positive Inflows</h2>
In contrast to Bitcoin, spot Ethereum ETFs <a href="https://sosovalue.xyz/assets/etf/us-eth-spot" rel="noopener noreferrer nofollow">reported</a> positive inflows on Tuesday, with a total daily net increase of $98.3 million.
BlackRock’s ETHA led the pack with $109.89 million in inflows, followed by Fidelity’s FETH, which recorded $22.49 million. Grayscale’s mini trust and Franklin Templeton’s Ether fund saw smaller inflows of $4.7 million and under $1 million, respectively.
Tuesday’s trading volume for Ethereum ETFs totaled $330.13 million. However, since their <a href="https://thecoinrise.com/ether-etfs-debut-with-1-08b-in-trading-volume-attracts-106m-in-net-inflows/" rel="noopener noreferrer nofollow">listing on July 23</a>, these funds have amassed net outflows of $363 million, indicating a challenging period for Ethereum investors.
<h2 id="span-style-font-weight-400-new-filing-for-options-on-ether-etfs-span">New Filing for Options on Ether ETFs</h2>
Meanwhile, Nasdaq and BlackRock have recently submitted a filing to offer options on Ethereum ETFs with the Securities and Exchange Commission (SEC). Renowned ETF analyst James Seyffart <a href="https://x.com/JSeyff/status/1820916415227908108" rel="noopener noreferrer nofollow">predicted</a> that the SEC is expected to make a final decision by April 9, 2025.
However, the SEC is not the only authority involved in this decision. Approval is also required from the Office of the Comptroller of the Currency (OCC) and the Commodity Futures Trading Commission (CFTC).
Despite the recent outflows, both Bitcoin and Ethereum showed signs of recovery from Monday’s global market downturn. Ethereum saw a 1% increase, climbing to $2,464 over the past 24 hours, according to CoinMarketCap.
The post <a href="https://thecoinrise.com/spot-bitcoin-etfs-see-massive-outflows-while-ether-etfs-shows-positivity/" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs See Massive Outflows While Ether ETFs Shows Positivity</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Spot Bitcoin ETFs See Massive Outflows While Ether ETFs Shows Positivity

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