The new update on the US ETFs discloses substantial movements in the Ethereum and Bitcoin markets. Spot On Chain, a well-known on-chain analytics provider, has revealed that Bitcoin ETFs obtained $62M in net inflows while Ethereum ETFs experienced outflows of $14M on August 19. The analytics provider took to its official X account to offer insights into the latest flows of the exchange-traded funds.
Bitcoin ETFs Incorporate $62M While Ethereum ETFs See Outflows of $14M Worth
In its new X post, Spot On chain noted that the Bitcoin ETFs witnessed a positive net flow of up to $62M. This significant figure reportedly denotes 3 days of consecutive gains. The respective positive trend signifies resilient investor faith in Bitcoin, irrespective of the wider volatility in the crypto markets.
The IBIT ETF of BlackRock has reportedly made a noteworthy addition to this spike. The exchange-traded fund saw a massive $93M inflow. This inclusion highlights the expansion in the mainstream adoption of the chief crypto token. Contrarily, the GBTC ETF of Grayscale recorded a neutral flow without any significant change. This points toward the pause in its activity in comparison with BlackRock. The rest of the BTC ETFs experience minor net flows when compared with the previous day.
This suggests that the top crypto token maintains its status as a prominent investment. On the other hand, the ETF market of Ethereum witnessed an opposite scenario with $14M in net outflow. This marks the 3rd day of consecutive ETH ETF outflows, denoting a reversal in the trend of investor interest. Grayscale dominated both the negative and positive ends of the net-flow leaderboard of Ethereum ETFs.
The Contrastive Flows Highlight the Changing Investor Sentiment
This specifies that though some inflows entered the ETH ETF sector, the outflows outweighed them. This paved the way for a negative net flow overall. The opposite flows of these exchange-traded funds mirror the diverse investor sentiments regarding these leading crypto assets. While Bitcoin keeps on attracting additional capital, potentially due to its position as a “digital gold,” the outflows of Ethereum may have emerged because of changing investor interest, profiting-taking, and market volatility.
