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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-bitcoin-and-ethereum-etfs-experience-mixed-results/" data-wpel-link="internal">Spot Bitcoin and Ethereum ETFs Experience Mixed Results</a> 
In the US, spot Bitcoin exchange-traded funds (ETFs) saw a net inflow of $61.98 million on the first day of the week. The total daily trading volume was $779.87 million, marking the lowest level since February 6 and the third lowest daily trading volume overall. The figures indicate a sharp decline from the $5.24 billion trading volume recorded on August 6. 
<h2 style="text-align: justify" id="strong-current-status-of-spot-bitcoin-etfs-strong">Current Status of Spot Bitcoin ETFs</h2> 
According to data provider SoSoValue, the low trading volume in ETFs is linked to the market’s inability to recover from heavy selling a few weeks ago. SOFA.org’s Head of Insights Augustine Fan stated, “Market sentiment remains low, and with the summer holidays and easing recession fears, <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are waiting for signals from this week’s Fed Jackson Hole meeting.” 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-381324" src="https://coin-turk.com/wp-content/uploads/2024/08/spot-bitcoin-etf-2.png" alt="" width="2188" height="858"> 
According to the <a href="https://newslinker.co/can-artificial-intelligence-achieve-consciousness/" target="_blank" rel="noopener" data-wpel-link="exclude">latest data</a>, BlackRock’s IBIT saw a net inflow of $92.68 million on Monday, while Fidelity’s FBTC saw a net inflow of $3.87 million. In contrast, Bitwise’s spot bitcoin fund experienced a net outflow of $25.72 million, and Invesco’s BTCO saw a net outflow of $8.84 million. 
<h2 style="text-align: justify" id="strong-spot-ethereum-etfs-continue-to-disappoint-strong">Spot Ethereum ETFs Continue to Disappoint</h2> 
Spot Ethereum ETFs recorded their lowest daily trading volume since their market debut. The trading volume remained around $124 million. There was a net outflow of $13.52 million from nine spot Ethereum ETFs, with the majority coming from Grayscale’s ETHE, which saw a $20.30 million outflow. Conversely, Grayscale’s Ethereum mini trust fund saw a small net inflow of $4.92 million, and Bitwise’s ETHW fund saw an inflow of $1.87 million. 
Fan noted that traditional finance actors (TradFi) are cautious about entering spot Ethereum ETFs due to uncertainties about the legality of staking and some funds recently withdrawing spot <a href="https://en.coin-turk.com/solana-and-ethereum-a-comparison-of-potential-catalysts-for-growth/" data-wpel-link="internal">Solana</a> ETF approvals. On Monday, the US Securities and Exchange Commission (SEC) expressed concerns to spot Solana ETF issuers about Solana’s potential security status, leading Cboe BZX to withdraw spot Solana ETF applications. 
Following these developments, the price of BTC rose by 4.22% in the last 24 hours to $60,935, while the price of ETH increased by 1.68% to $2,672. Fan commented, “Bitcoin is stuck around $60,000 amid fears of supply sales and macroeconomic recovery expectations,” adding, “On the other hand, Ethereum continues to disappoint due to fundamental issues like low network usage and increased interest in Layer-2 solutions.” 
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Spot Bitcoin and Ethereum ETFs Experience Mixed Results

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