Bitcoin ETFs ($BTC) experienced net outflows totalling 279 BTC on April 1, equivalent to approximately $23.14 million. The ARK 21Shares Bitcoin ETF (ARKB) led the outflow, which shed 279 BTC. The fund now holds 47,501 BTC, with an estimated market value of $3.94 billion.
Even as ARKB withdrew quite aggressively from the market, iShares Bitcoin Trust (IBIT) received a net inflow of 182 Bitcoin. IBIT was able to record a net inflow of 1,955 BTC within the last 7 days, making it the top performer Bitcoin ETF in the last 7 days. Fidelity’s FBTC also remained robust and added 218 BTC in 7 days but had no daily intake.
Other funds painted a mixed picture. Grayscale’s GBTC witnessed outflow for the 17th consecutive days and shed 28 BTC in the last 24 hours. Franklin Bitcoin ETF and Invesco Galaxy bitcoin ETF (BTCO) were among the few to register positive net daily flow, bought 8 BTC and 216 BTC respectively.
Altogether, Bitcoin ETFs possess holdings at 1,122,818 BTC, which would be equivalent to around $93.11B. Although short-term trading registered negative, the seven-day net flow stood at 534 BTC or approximately $42.77 million, indicating continued demand from the investors.
Fidelity Leads Ethereum ETF Surge
While Bitcoin ETFs stagnated, Ethereum ETFs ($ETH) saw significant investments. On April 1, the group recorded a net daily inflow 6,267 ETH per day, equated to $11.61 million. Out of all the Ethereum funds, Fidelity had the highest single-day inflow with 3,498 ETH or about $6.48 million. The fund now controls 400,086 ETH, equivalent to $741.36 million.
Grayscale’s Ethereum Trust (ETHE) also supported with 2,251 ETH inflow, whereas mini trust disclosed outflow of 6 ETH in the same period. Over a seven day basis, the mini trust saw an outflow of 3,110 ETH in net, which might indicate transfer of funds to other larger and more liquid trusts.
The iShares Ethereum Trust did not move much in after-hours trading but owns 1,191,766 ETH, meaning institutional investors remain staunch. VanEck’s offering and Bitwise both saw no change in their holdings but added value due to the increasing institutional demands for Ethereum.
Although some of these have experienced outflows, overall, all Ethereum ETFs hold 3,430,297 ETH, worth nearly $6.38 billion. The weekly net outflow is negative and stands at 1,507 ETH, which has happened due to developments in Grayscale mini trust and Galaxy Ethereum ETF.
Bitcoin Climbs Past $84K While Ethereum Sees Strong Daily Gain
Bitcoin was up at $84,846.06, reaching the $84,000 mark after a 1.91% rise in the past 24 hours. Ethereum came second with 3.65% daily gain to $1,911.03.
Both the assets rose due to increased market activity and circulation numbers depicted by the market data. By market capitalization, the value of Bitcoin increased by 1.84% to $1.68 trillion. This led to the trading volume of the asset within the 24-hour period to be $28.07 billion, a slight decrease of 0.16%.
Ethereum’s market capitalization rose 3.62% to $230.58 billion. The trading volume in the 24 hours fell by 5.40% to $15.17 billion. FDV was also equal to the market capitalisation which was $230.52 billion.
