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Spot Bitcoin and Ethereum exchange-traded funds in the United States have started the week in different directions as the border cryptocurrency market faces corrections.
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener noreferrer nofollow">data</a> provided by Farside Investors, spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) ETFs recorded $124.1 million in net inflows at the end of the trading day on Monday, July 29. All of the day’s inflows, $205.6 million, came into BlackRock’s iShares Bitcoin Trust (IBIT).
The Grayscale Bitcoin Trust (GBTC) continued its downward movements, losing $54.3 million in outflows yesterday. The Bitwise Bitcoin ETF (BITB) and Fidelity Wise Origin Bitcoin Fund (FBTC) also saw $21.3 million and $5.9 million in outflows, respectively.
The remaining spot BTC <a href="https://crypto.news/best-crypto-etf-by-performance/" target="_blank" rel="noopener noreferrer nofollow">ETFs</a> remained neutral.
<h2 class="wp-block-heading" id="ethereum-etfs-start-the-week-with-net-outflows">Ethereum ETFs start the week with net outflows</h2>
Per data from Farside, spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) ETFs <a href="https://farside.co.uk/?p=1518" target="_blank" rel="noopener noreferrer nofollow">registered</a> $98.3 million in net outflows yesterday, kicking off the second trading week for the new investment products.&nbsp;
You might also like: <a href="https://crypto.news/inside-look-at-the-performance-and-structure-of-new-ethereum-etfs/" rel="noopener noreferrer nofollow"> Inside look at the performance and structure of new Ethereum ETFs </a>
As crypto.news previously <a href="https://crypto.news/ethereum-etfs-first-week-sees-net-outflows-triggered-by-grayscale-ethe/" target="_blank" rel="noopener noreferrer nofollow">reported</a>, in the same pattern as the first week of Ethereum ETF trading, Grayscale Ethereum Trust (ETHE) was the only ETH ETF with outflows, losing $210 million on July 29. Overall, ETHE has seen $1.72 billion in net outflows since its launch. Data shows that BlackRock’s ETHA saw $58.2 million in inflows — helping its total amount of inflows since launch surpass the $500 million mark.
Furthermore, Fidelity’s FETH, VanEck’s ETHV and Bitwise’s ETHW also recorded double-digit inflows of $24.8 million, $10.9 million and $10.4 million, respectively.
Grayscale’s lower-fee Ethereum ETF, Ethereum Mini Trust (ETH), and Franklin Templeton’s EZET recorded $4.9 million and $2.5 million in inflows yesterday.
The different momentum in the spot BTC and ETH ETFs comes as the global cryptocurrency market capitalization saw a 3.3% decline over the past 24 hours, according to <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="noopener noreferrer nofollow">data</a> from CoinGecko.&nbsp;
Bitcoin dropped by 4% and is trading at $66,600 at the time of writing. Ethereum witnessed a 1.3% correction over the past day and is currently changing hands around $3,340.
Read more: <a href="https://crypto.news/ethereum-etf-implications-opinion/" rel="noopener noreferrer nofollow"> The implications of the Ethereum ETF and beyond | Opinion </a>

Bitcoin, Ethereum ETFs take different paths amid market correction

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