Spot Bitcoin ETFs in the U.S. See Inflows, While Ether ETFs Experience Outflows for a Second Day
- WBOYOriginal
- 2024-09-13 18:38:161172browse
Spot Bitcoin exchange-traded funds in the U.S. experienced inflows on Sept. 12, a reversal from the previous day, while Ether ETFs saw their second consecutive day of outflows.
U.S. spot Bitcoin exchange-traded funds (ETFs) saw their second consecutive day of inflows on Sept. 12, while Ether ETFs experienced outflows.
According to data from SoSoValue, the 12 spot Bitcoin ETFs logged a net inflow of $39.02 million, reversing the $43.97 million in outflows recorded the previous day. Among the funds, ARK 21Shares’ ARKB led the lot with a reported inflow of $18.3 million. This follows an outflow of $54 million reported by the fund the day before.
Fidelity's FBTC ETF followed closely, with $11.5 million flowing into its fund. Notably, the ETF is the only fund to record four consecutive days of net inflows, with a total of $115.9 million entering the fund. Grayscale's Bitcoin Mini Trust also saw an inflow, to the tune of $5.18 million.
VanEck's HODL, Franklin Templeton's EZBC and Bitwise's BITB also reported net positive flows of $4.9 million, $3.4 million and $2.2 million, respectively.
However, Grayscale's GBTC was the only spot Bitcoin ETF to report an outflow, with $6.5 million leaving the fund, bringing the total outflows to $20.04 billion since its launch.
Meanwhile, the other seven BTC ETFs, including BlackRock's IBIT, saw no trading activity during the day. Notably, IBIT, which is the largest spot BTC ETF by net assets, has not experienced any net inflows since Aug. 27.
The total trading volume for the 12 BTC ETFs dropped to $896 million on Sept. 12, significantly lower than the $1.27 billion seen the previous day. These funds have recorded a cumulative total net inflow of $17.03 billion since their inception. At the time of writing, Bitcoin (BTC) is trading at $57,874, per data from crypto.news.
In other news, the nine U.S.-based Spot Ethereum ETFs experienced a net outflow of $20.14 million, marking their second consecutive day of net outflows. All of the daily net outflows originated from Grayscale's ETHE, with the remaining eight ether funds recording no flows on Sept. 12.
The trading volume for these investment vehicles also decreased, dropping to $106.14 million from $126.22 million the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $582.74 million to date. At the time of publication, Ethereum (ETH) is trading at $2,346.
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