In the US, spot Ethereum and Bitcoin exchange-traded funds (ETFs) have shown notable movements recently. On Tuesday, spot Ethereum ETFs saw a net inflow of $24.34 million, while spot Bitcoin ETFs received a net inflow of $38.94 million. These developments reflect general market optimism, although some funds have started to show negative trends.
Current Status of Spot Ethereum ETFs
Spot Ethereum ETFs, which saw positive flows on Monday, managed to continue this trend into Tuesday. BlackRock’s ETHA fund led with a net inflow of $49.12 million. This marked a significant change from the previous day, which reported zero flows. Fidelity’s FETH fund attracted attention with a $5.41 million inflow, while Inveco’s QETH fund saw a net inflow of $813,690. On the other hand, Grayscale’s ETHE fund reported a negative flow of $31 million, indicating a downturn from the previous day’s zero flow.
On Tuesday, the total daily trading volume of nine spot Ethereum ETFs reached approximately $191 million, compared to $285.9 million on Monday. This indicates a slight decrease in the activity of spot Ethereum ETFs.
Current Status of Spot Bitcoin ETFs
On the Bitcoin front, spot Bitcoin ETFs continued their positive flows. BlackRock’s IBIT fund contributed the most with a net inflow of $34.55 million. Fidelity’s FBTC fund recorded an inflow of $22.56 million, while Bitwise’s BITB fund saw an inflow of $16.54 million. Grayscale’s GBTC fund continued its nine-day streak of outflows, reporting $28.65 million. Additionally, Ark and 21Shares’ ARKB fund reported a $6 million outflow.
Spot Bitcoin ETFs recorded a total daily trading volume of $1.18 billion on Tuesday, slightly behind the $1.3 billion recorded on Monday. In light of these developments, Bitcoin’s price rose by 3.27% in the last 24 hours to $61,109, while Ethereum increased by 2.1% to $2,713.
The current state of spot ETFs shows that both Ethereum and Bitcoin remain popular among investors, and overall market sentiment is positive. However, the negative flows in some major funds like Grayscale highlight the volatility within the market dynamics.
