Bitcoin and Ethereum ETFs see mixed results, though mostly positive.
(Photo by Mario Tama/Getty Images)
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Key Takeaways
Grayscale’s primary BTC and ETH fund outflows total over $22 billion.
All other ETH and BTC ETF cumulative flows are in the green.
Grayscale’s “Mini” BTC and ETH funds have combined cumulative inflows of just over $600 million.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have seen mixed results as the crypto markets begin to show signs of positivity this week.
Bitcoin ETFs
Data provided by SoSoValue shows that Bitcoin ETFs are returning to form, posting a solid $39.02 million in net inflows on Sept. 12, 2024.
The development comes as BTC’s price begins to show signs of recovery as it tries to push above $58,000.
Bitcoin ETF flows. Source: SoSoValue
Leading today’s gainers is the ARK 21Shares Bitcoin ETF (ARKB), which bagged $18.34 million.
It’s not quite enough to make up for the brutal losses it suffered throughout Aug., but it’s a solid inflow for a fund that has performed pretty well with $2.25 billion cumulative net inflows.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) posted a cool $11.47 million in net inflows, raising its cumulative net inflows to $10 billion. It nearly hit that mark at the end of July.
However, the market woes of August clipped its wings at $9.99 billion, and its cumulative net inflows now sit at $9.54 billion.
Grayscale’s Mini Bitcoin Trust netted a modest $5.18 million, as did the VanEck Bitcoin ETF (HODL), which had $4.95 million in net inflows.
Other gainers include the Franklin Templeton Digital Holdings Trust (EZBC), posting $3.31 million in net inflows, and the Bitwise Bitcoin ETF (BITB), which attracted $2.22 million.
Predictably, the Grayscale Bitcoin Trust (GBTC) suffered yet another day of outflows, shedding $6.51 million from its fund.
Having not seen a single day of inflows since July 22, GBTC cumulative outflows now stand at $20.05 billion.
Ethereum ETFs
As per data from SoSoValue, Ethereum ETFs recorded net outflows of $20.14 million on Sept. 12, marking day two of consecutive outflows.
Ethereum ETF flows. Source: SoSoValue
However, it’s not all bad news.
Maybe only for just one fund, the Grayscale Ethereum Trust, which posted $20.14 million in net outflows. This brings its cumulative net outflow to an astonishing $2.71 billion.
It’s unfortunate for the charts as Grayscale’s failure in the ETH ETF market is the primary driver behind a majority of the daily red candles.
However, with all this considered, it’s also a sign that Ethereum ETFs are performing pretty well.
All other eight funds posted neutral flows and have been running mostly positive or neutral since their launch on July 23, 2024.
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.
