Bitcoin and Ethereum ETF flows run red, again.
(Photo by Spencer Platt/Getty Images)
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Key Takeaways
U.S. Bitcoin ETFs now command $51.96 billion in net assets or 4.58% of the Bitcoin market cap.
A majority of BTC and ETH ETFs saw neutral flows, suggesting investors are in HODL mode.
Grayscale’s BTC and ETH ETF outflows now total over $23 billion.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have posted joint outflows after a brief respite from their lengthy outflow streaks.
Bitcoin ETFs
According to data from SoSoValue, Bitcoin ETFs posted net outflows of $43.97 million on Sept. 11, ending a short-lived two-day inflow streak.
Bitcoin ETF flows. Source: SoSoValue
Looking at the day’s gainers, Fidelity’s Wise Origin Bitcoin Fund (FBTC) posted $12.57 million on its third day of consecutive net inflows. With $9.53 billion in cumulative net inflows, FBTC ranks second amongst its competitors.
The Invesco Galaxy Bitcoin ETF (BTCO) caught a modest inflow of $2.59 million, bringing its cumulative net inflow to a sturdy $347.54 million. It marks a relatively rare day for BTCO, which, since July 23, has seen just four days of inflows and three days of outflows; the rest were neutral.
As for outflows, the ARK 21Shares Bitcoin ETF (ARKB) took a sizeable hit, shedding $54.03 million in net outflows. The Grayscale Bitcoin Trust (GBTC) posted one of its lowest days of outflows ever, shedding $4.59 million from its fund. GBTC outflows now total $20.04 billion.
Grayscale is taking a double dip in BTC ETF outflows. The Grayscale Bitcoin Mini Trust, too, saw net outflows of $511,230. The mini fund has garnered $347.59 million in cumulative net inflows.
Ethereum ETFs
Data provided by SoSoValue show that Ethereum ETFs have failed to score a second day of inflows. Instead, they’ve posted a very modest net outflow of $542,870.
Ethereum ETF flows. Source: SoSoValue
The Fidelity Ethereum Fund (FETH) has scored its third consecutive day of net inflows, posting a very humble $1.17 million in net inflows. This raises the fund’s cumulative net inflow to $413.73 million, ranking it second in ETH ETFs.
There’s just one fund posting outflows for Sept. 11, but it’s not the usual Grayscale suspects.
It’s the VanEck Ethereum Trust, which posted $1.71 million in net outflows. This would be the fund’s first day of outflows since Aug. 16, which also ends its 11-day neutral streak, which began on Aug. 26.
It would seem that Ethereum ETFs are performing poorly, especially when compared to their BTC counterparts. However, looking at the data available, it really is just one fund, namely Grayscale’s Ethereum Trust (ETHE), which has persistently dragged the daily figures down with its 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.
