US Spot Bitcoin ETFs Record $45M Inflows as Ether ETFs See $24M Outflows

[TomPluz]

U.S. spot bitcoin exchange-traded funds (ETFs) reported inflows on Wednesday, while spot ether ETFs experienced net outflows. Data reveals that 12 spot bitcoin ETFs collectively gained $45.14 million, whereas $23.68 million exited Ethereum ETFs.

On Wednesday, sosovalue.xyz stats show the 12 U.S. spot bitcoin ETFs saw positive gains, with Blackrock’s IBIT ETF leading by securing $52.52 million in inflows. Among the four funds that registered net gains, Wisdom Tree’s BTCW attracted $10.5 million, Grayscale’s Bitcoin Mini Trust (BTC) absorbed $9.71 million, and Bitwise’s BITB recorded $2.99 million. However, Grayscale’s Bitcoin Trust (GBTC) saw $30.58 million in outflows, which tempered the day’s overall inflows.

Since July 23, cumulative net inflows for ether ETFs remain negative, standing at -$387.35 million. Only three ETFs recorded inflows, with Fidelity’s FETH fund leading the way, securing $4.7 million. Invesco’s QETH followed with $1.79 million, and Bitwise’s ETHW added $1.69 million. Grayscale’s ETHE led in outflows, losing $31.86 million on Wednesday, bringing the total reduction in ETH holdings to $2.23 billion to date.

More on this development here.

As of todays, what is clear is that there is a strong rebound on the part of Bitcoin's price and the Bitcoin ETFs operating on the market as it gained more inflows which is a form of trust and confidence bestowed on the top coin...and then the same excitement has not yet returned to Ethereum as it is struggling to regain its footing in terms of its price and ETH ETFs are actually experiencing outflows.

I am sure many people are bewildered with this development and I myself is asking why is this case...what do you think hindered Ethereum from getting back to where it was and for its ETFs to soar?

[Upgrade00]

This databhelps to put things into perspective. There was so much hype about the ETF approval and it was expected that it will have an immediate impact on the market, only Blackrock did if I remember correctly.

I expect the impact of Bitcoin ETFs to trickle in over several years and with this data it looks to be on the right track. More stability in the price and less panic dips will be a welcome development.

[Baofeng]

This databhelps to put things into perspective. There was so much hype about the ETF approval and it was expected that it will have an immediate impact on the market, only Blackrock did if I remember correctly.

O expect the impact of Bitcoin ETFs to trickle in over several years and with this data it looks to be on the right track. More stability in the price and less panic dips will be a welcome development.

Still early though, but as far as the data goes, yeah, I don't think that there are hype, but perhaps big investors really knows how to play this game and so they are putting their money where their mouth is.

And I expecting that in the event of a eventual bull run, that numbers will go up and then it will trickle down to crypto market is general, in the altcoin market that might have help them push as well.

[ZAINmalik75]

I am sure many people are bewildered with this development and I myself is asking why is this case...what do you think hindered Ethereum from getting back to where it was and for its ETFs to soar?

If the data is for one whole month of July then I can't say anything for sure but a possible reason can be ETH investors saw a dump coming in BTC and they know ETH will also dump so they withdrew their funds from ETH from ETFs and from on-chain market too.

The dump in the first 5 days that BTC caused has provided a great opportunity for these investors who withdrew their funds from ETH ETFs. If we see the current data it will should show us an increase in the inflow of ETH ETFs.

[Zed0X]

Does this disprove the old saying in crypto that altcoins like ETH follow BTC? I think that still holds true. Almost everything drops when BTC dives right? It takes a bit of time before alts like ETH recovers. I think a lot of big buyers/investors wait for BTC to stabilize before they start accumulating cheaper alts.

[Manna]

According to the data so far, US spot Bitcoin ETFs (Exchange-Traded Funds) have recorded inflows of $45 million, significantly more than Ether ETFs.  During the same period, Ether ETFs saw $24 million in outflows.  These data are said to dictate the current trends in the cryptocurrency market and the divergent preferences of investors.