There have been notable movements in Ethereum and Bitcoin ETFs in recent days. Especially on Monday, a significant increase in the trading volume of spot Ethereum ETFs was observed. In Bitcoin ETFs, the interest of large institutional investors came to the fore.
These developments in the cryptocurrency market clearly reveal the dynamics of investment funds. As of August 12, 2024, spot Ethereum exchange-traded funds (ETFs) in the US saw a total net inflow of $4.9 million. This marks a significant recovery from the past three days. Grayscale’s Ethereum Trust (ETHE) fund recorded net zero inflows for the first time on Monday after experiencing continuous outflows for 14 days since its conversion to an ETF. This suggests that investors are reconsidering their interest in cryptocurrencies.
While ETHE recorded zero inflows, VanEck’s ETHV fund saw an outflow of $2.92 million, marking the fund’s first outflow since July 23. Despite this, Fidelity’s FETH fund saw an inflow of $3.98 million, and Bitwise’s ETHW fund saw an inflow of $2.86 million. Franklin’s EZET fund also drew attention with an inflow of around $1.01 million. These movements reveal that investors are turning to various strategies and have to adapt to the ever-changing structure of the market.
Total daily trading volume for spot Ethereum ETFs on Monday reached $286 million, a significant increase from the previous day’s volume of $166.9 million, suggesting that investors are renewing their interest in the cryptocurrency and are shaping it to market movements.
Spot Bitcoin ETFs on the Move
On the Bitcoin side, a greater movement was observed. 12 spot Bitcoin ETFs in the US recorded a net inflow of $27.87 million on Monday. Ark and 21Shares’ ARKB fund provided the biggest increase with a net inflow of $35.4 million. BlackRock’s IBIT fund followed with a net inflow of $13.45 million. These developments show that the interest of large institutional investors in Bitcoin continues to increase.
However, Bitwise’s BITB and Grayscale’s GBTC funds saw outflows of $17.06 million and $11.77 million, respectively, suggesting that while major funds continue to be interested in Bitcoin, some investors are taking profits or rebalancing their portfolios.
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