Bitcoin ETFs See Sustained Inflows Amidst Ethereum ETF Outflow Struggles

By Umair

August 27, 2024 9:10 AM

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Table of contents

1. Bitcoin ETFs Maintain Dominance over Ethereum ETFs with $203M in Net Inflows
2. ETH ETFs See Sheer Negative Flows of $13.2M

The ETFs in the United States have recently displayed a noteworthy activity with a huge divergence between Ethereum and Bitcoin funds. As per the data provided by Spot On Chain (a well-known on-chain analytics firm), Bitcoin ETFs witnessed $203M in net inflows while Ethereum ETFs incurred $13M in outflows on August 26. The analytics provider revealed the current standing of the individual exchange-traded funds on its official social media account.

🚨 US #ETF 26 AUG: 🟢$203M to $BTC and 🔴$13M to $ETH

🌟 BTC ETF UPDATE (final): +$203M

• The net flow has remained positive for 8 consecutive trading days!

• #BlackRock (IBIT) saw a massive inflow of $224M, the highest level in the past 25 trading days.

🌟 ETH ETF UPDATE… pic.twitter.com/x1slIQbD94
— Spot On Chain (@spotonchain) August 27, 2024

Bitcoin ETFs Maintain Dominance over Ethereum ETFs with $203M in Net Inflows

Spot On Chain mentioned in an X post that the current divergence between Ethereum and Bitcoin ETFs reflects the contradictory investor sentiment. BTC ETFs saw a significant amount of $203M in net inflows. This marks the 8^th consecutive day in terms of positive flows for Bitcoin. Throughout the previous week, Bitcoin ETFs maintained a positive outlook. Particularly, on Tuesday and Friday, the Bitcoin ETFs recorded staggering inflows of $88M and $252M respectively.

This respective consistent inflow signifies the increasing confidence among investors in Bitcoin. On the 26^th of August, BlackRock (IBIT) led the Bitcoin ETF market with a substantial inflow of $224M. This represents the top single-day inflow witnessed over the recent twenty-five trading days. Additionally, Franklin (EZBC) and WisdomTree (BTCW) saw $5.5M and $5.1M in inflows.

ETH ETFs See Sheer Negative Flows of $13.2M

On the other hand, the Ethereum ETF market has shown massively negative flows on August 26. Out of 9 ETH ETFs, 6 witnessed no flows at all. However, the other 3 ETH exchange-traded funds experienced $13.2 in outflows. The current outlook of the Ethereum ETFs is also a continuation of the gradual decline seen in the previous week. The week began with $13.5M leaving ETH ETFs.

As a result of the continuation of this trend, these ETFs incurred losses of almost $5.7M on Friday. On August 26, Grayscale (ETHE) maintained its position as the top ETH ETF in terms of negative flows. The cumulative outflows of Grayscale (ETHE) reportedly reached $9.5M on August 26. Franklin (EZET) incurred a net outflow of $1 million. Apart from that, Fidelity (FETH) recorded $2.7 in outflows.

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AUTHOR

Umair

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.