Bitcoin ETF outflows continue. (Photo by Spencer Platt/Getty Images)
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Key Takeaways
U.S. spot Bitcoin ETFs command $98.15 billion in BTC or 5.45% of its market cap.
Grayscale’s primary BTC and ETH funds have combined outflows totaling almost $24 billion.
U.S. Spot Ethereum ETFs hold $9.8 billion in ETH or 2.45% of its market cap.
Bitwise has filed for a “market-weighted” Bitcoin-Ethereum exchange-traded product (ETP) with the SEC.
U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) have posted a second day of outflows following last week’s record-breaking inflows, whilst Ethereum funds work to pick up the slack with a humble day of inflows.
Taking home a modest gain, the Bitwise Bitcoin ETF (BITB) scored a cool $6.47 million in net inflows. Close behind, The Grayscale Bitcoin Mini Trust captured a modest $4.84 million, bringing its cumulative net inflows to $702.1 million.
Leading the losses, Fidelity’s Wise Origin Bitcoin Fund (FBTC) posted outflows totaling $95.68 million, though this barely touches the sides of its $17.91 billion in net assets.
The Grayscale Bitcoin Trust (GBTC) recorded $36.14 million in net outflows, bringing its cumulative net outflows to a dreadful $20.52 billion.
With just $19.6 billion in assets remaining, FBTC could soon flip GBTC. Finally, the Invesco Galaxy Bitcoin ETF (BTCO) posted a humble loss of $2.27 million.
Ethereum ETFs
As per SoSoValue, Ethereum ETFs are working to reverse their recent spat of outflows and rekindle a historic inflow run after posting $40.67 million in combined inflows for Nov. 27, 2024.
Ethereum ETF flows. Source | SoSoValue
Taking charge, BlackRock’s iShares Ethereum Trust (ETHA) captured a majority of the day’s inflows, bagging $50.13 million, raising its cumulative net inflows to $1.85 billion.
It’s followed by the Grayscale Ethereum Mini Trust, which garnered $16.28 million in net inflows, bringing its cumulative net inflow to a respectable $379.47 million.
Unfortunately, a handful of funds have dragged the figures down. Leading the losses, the Grayscale Ethereum Trust (ETHE) posted $20.11 million in net outflows. This brings its cumulative net outflows to a painful $3.37 billion. ETHE hasn’t seen one day of net inflows since launching.
The 21Shares Core Ethereum ETF (CETH) incurred smaller losses, dropping $2.81 million on its second-ever day of net outflows.
It’s closely followed by Fidelity’s Ethereum Fund (FETH), which similarly posted $1.65 million in exits. Finally, the Invesco Galaxy Ethereum ETF (QETH) shed just $1.16 million on its first-ever day of net outflows.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
