Ethereum

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Bitcoin

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On Thursday, the U.S. market for spot Bitcoin exchange-traded funds (ETFs) saw positive inflows totaling $192.56 million after <a href="https://thecoinrise.com/record-outflows-for-bitcoin-etfs-in-the-u-s-as-btc-falls-below-60k/">days of massive outflows</a>. This comes as the largest crypto by market cap saw a major surge in its value. 
<h2 id="span-style-font-weight-400-bitcoin-inflows-span">Bitcoin Inflows</h2> 
Leading the pack was BlackRock’s IBIT fund, which <a href="https://sosovalue.xyz/assets/etf/us-btc-spot">reported</a> the largest inflows of the day, bringing in $157.6 million. Following closely was WisdomTree’s BTCW, which emerged as the unexpected star of the day. The fund drew in a record $118.52 million, a tenfold increase over its previous high, set just a day earlier. 
Fidelity’s FBTC also showed strong performance, with net inflows of $65.25 million. Meanwhile, the Ark Invest and 21Shares’ ARKB fund added $32.79 million to its portfolio. Even VanEck’s HODL ETF, which typically sees more modest activity, managed to pull in $3.38 million in net inflows. 
In contrast, Grayscale’s converted GBTC fund faced a major withdrawal, with net outflows totaling $182.94 million. Hashdex’s spot Bitcoin fund also saw an outflow of $2.03 million. 
Since their inception in January, these 12 spot Bitcoin ETFs have collectively garnered $17.43 billion in net inflows. 
The total trading volume for these Bitcoin ETFs on Thursday reached $2 billion, reflecting increased market activity compared to Wednesday’s $1.79 billion.&nbsp; 
<h2 id="span-style-font-weight-400-ether-etfs-face-minor-net-outflow-span">Ether ETFs Face Minor Net Outflow</h2> 
The total net outflow for spot Ethereum ETFs was $2.87 million on Thursday. BlackRock’s ETHA fund attracted $11.74 million in net inflows, with additional <a href="https://sosovalue.com/assets/etf/us-eth-spot">inflows</a> seen in Grayscale’s mini trust ($5 million) and Bitwise’s ether fund ($2.78 million). 
However, these gains were offset by significant outflows, particularly from Grayscale’s ETHE, which saw $19.83 million exit, and Fidelity’s Ethereum ETF, which recorded $2.58 million in outflows. 
<a href="https://thecoinrise.com/ether-etfs-debut-with-1-08b-in-trading-volume-attracts-106m-in-net-inflows/">Since launching on July 23, these ETFs</a> have recorded $390.23 million in net outflows. 
Despite the relatively minimal movements, the daily trading volume for Ethereum ETFs still reached $338.49 million.&nbsp; 
<h2 id="span-style-font-weight-400-current-market-condition-span">Current Market Condition</h2> 
Since the recent bloodbath, the cryptocurrency market has recovered significantly. Bitcoin is currently <a href="https://coinmarketcap.com/currencies/bitcoin/">trading</a> around $61,000, up by more than 6% in the past 24 hours. Meanwhile, Ether has also seen a major recovery, surging by over 10% in the past day. The cryptocurrency is trading around $2,672 at the time of writing. 
The post <a href="https://thecoinrise.com/bitcoin-etfs-record-192m-inflows-while-ether-etfs-face-minor-outflows/">Bitcoin ETFs Record $192M Inflows While Ether ETFs Face Minor Outflows</a> appeared first on <a href="https://thecoinrise.com">TheCoinrise.com</a>.

Bitcoin ETFs Record $192M Inflows While Ether ETFs Face Minor Outflows

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