Ethereum

Bitcoin ETF

Grayscale Bitcoin Trust

The nine U.S. spot Ethereum exchange-traded funds collectively saw net inflows of $33.7 million yesterday, following four straight days of negative flows.
Despite continued outflows from Grayscale’s ETF, overall Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) ETF flows had a positive day yesterday, July 30. According to <a href="https://farside.co.uk/?p=1518" target="_blank" rel="noopener noreferrer nofollow">data</a> from Farside Investors, Grayscale’s ETHE was the sole spot ether ETF to experience net outflows yesterday, July 30, amounting to $120.3 million. The ETF, which has<a href="https://crypto.news/grayscale-eth-etf-outflows-surpass-1b-mark-since-launch/" target="_blank" rel="noopener noreferrer nofollow"> experienced outflows every day</a> since its launch on July 23, has seen a total of $1.8 billion in outflows since its debut.
Yesterday’s outflows from ETHE were counterbalanced by significant inflows into other funds, led by Blackrock’s ETHA with $118 million. Fidelity’s FETH attracted $16.4 million, while Grayscale’s lower-fee Ethereum ETF, Ethereum Mini Trust, gained $12.4 million in net inflows.
Additional inflows were reported by Franklin’s EZET at $3.7 million and Bitwise’s ETHW at $3.5 million. The remaining three spot ether ETFs — 21Shares’s CETH, VanEck’s ETHV and Invesco Galaxy’s QETH — reported zero net flows on Tuesday.
Per <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noopener noreferrer nofollow">data </a>from SoSoValue, the total daily trading volume for these spot Ether ETFs was $563.22 million on July 30, a decline from $773.01 million on July 29 and $1.11 billion on launch day.
<h2 class="wp-block-heading" id="bitcoin-etfs-see-18-3m-in-outflows">Bitcoin ETFs see $18.3m in outflows</h2>
Meanwhile, on July 30, the 11 spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) ETFs in the U.S. saw net outflows of $18.3 million, breaking a four-day streak of positive flows, according to <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener noreferrer nofollow">data </a>from Farside.
BlackRock’s IBIT was the only spot Bitcoin ETF to record net inflows, with $74.87 million entering the fund.
The Grayscale Bitcoin Trust (GBTC) continued its downward movements and experienced the largest net outflows among the competing products at $73.6 million. This was followed by Ark and 21Shares’ ARKB with $7.9 million in net outflows, VanEck HODL with $5.6 million, Bitwise BITB with $3.2 million and Fidelity FBTC with $2.9 million in net outflows.
The total daily trading volume for these spot Bitcoin ETFs was $1.37 billion on Tuesday, down from $2.68 billion on Monday and $4.66 billion on launch day, according to <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">SoSoValue data</a>.
You might also like: <a href="https://crypto.news/ethereum-etf-inflows-could-surpass/" rel="noopener noreferrer nofollow"> Alluvial CEO: Ethereum ETF inflows could surpass $20b </a>
The different momentum in the spot BTC and ETH ETFs comes as the global cryptocurrency market capitalization saw a 0.38% decline over the past 24 hours, standing at $2.39 trillion, according to data from <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="noopener noreferrer nofollow">CoinGecko</a>.&nbsp;
The day marked a reversal for both U.S. Ethereum ETFs and Bitcoin ETFs. On Monday, July 29, spot Bitcoin ETFs recorded $124.1 million in net inflows, while spot Ether ETFs saw $98.3 million in net outflows, as previously <a href="https://crypto.news/bitcoin-ethereum-etfs-take-different-paths-amid-market-correction/" target="_blank" rel="noopener noreferrer nofollow">reported </a>by crypto.news.
In an X <a href="https://x.com/SplitCapital/status/1818470656800915895" target="_blank" rel="noopener noreferrer nofollow">post </a>on July 31, Split Capital founder and chief investment officer Zaheer Ebtikar remarked on the positive shift, noting it was “definitely some rotating capital,” as spot Bitcoin ETFs experienced $18.3 million in outflows on July 30.
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 Even more interesting — BTC outflows today (net) Definitely some rotating capital?<a href="https://twitter.com/NateGeraci?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@NateGeraci</a> <a href="https://twitter.com/JSeyff?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@JSeyff</a> <a href="https://twitter.com/HHorsley?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@HHorsley</a> <a href="https://t.co/2blrKsHdTT" target="_blank" rel="noopener noreferrer nofollow">https://t.co/2blrKsHdTT</a>— Zaheer (@SplitCapital) <a href="https://twitter.com/SplitCapital/status/1818470656800915895?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 31, 2024</a>
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Just two days earlier, on July 29, Steno Research senior analyst Mads Eberhardt <a href="https://x.com/MadsEberhardt/status/1817846559825965497" target="_blank" rel="noopener noreferrer nofollow">predicted </a>that the substantial outflows from Grayscale’s ETHE would likely taper off this week, a trend that seems to have already begun.
At the time of writing, the price of BTC had dropped by about 1% to $66,270. ETH, the largest altcoin in the crypto market, has also experienced a slight decline of about 0.5% over the past day, currently trading around $3,320.
Read more: <a href="https://crypto.news/21shares-taps-chainlink-for-proof-of-reserve-of-its-ethereum-etf/" rel="noopener noreferrer nofollow"> 21Shares taps Chainlink for proof of reserve of its Ethereum ETF </a>

US spot Ether ETFs end 4-day negative flow streak with $33.7m in inflows

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