Spot Bitcoin ETFs Gain, While Ethereum ETFs Shed Losses

U.S. spot bitcoin exchange-traded funds (ETFs) reported inflows on Wednesday, while spot ether ETFs experienced net outflows.

U.S. spot bitcoin exchange-traded funds (ETFs) saw inflows on Wednesday, while spot ether ETFs experienced net outflows. According to data from sosovalue.xyz , the 12 spot bitcoin ETFs collectively gained $45.14 million, whereas $23.68 million exited ethereum ETFs.

Spot Bitcoin ETFs Gain, While Ethereum ETFs Shed Losses

The 12 U.S. spot bitcoin ETFs saw positive gains on Wednesday, with Blackrock’s IBIT ETF leading the pack by securing $52.52 million in inflows. Among the four funds that registered net gains, Wisdom Tree’s BTCW attracted $10.5 million, Grayscale’s Bitcoin Mini Trust (BTC) absorbed $9.71 million, and Bitwise’s BITB recorded $2.99 million. On the other hand, Grayscale’s Bitcoin Trust (GBTC) saw $30.58 million in outflows, which tempered the day’s overall inflows.

The additional $45.14 million brings the cumulative net inflows since Jan. 11, 2024 to $17.23 billion. Notably, spot BTC ETFs recorded approximately $1.79 billion in trade volume. As of today, the 12 bitcoin ETFs have a combined value of $49.82 billion, which represents 4.58% of bitcoin’s total market capitalization.

In contrast to bitcoin ETFs, ethereum-based ETFs lost $23.68 million on Wednesday. This marks a significant shift, as the ether ETFs had recorded net inflows of $33.33 million on Tuesday. Cumulatively, the net outflows from spot ether ETFs now total $387.35 million since July 23, 2023.

Only three ETFs recorded inflows, with Fidelity’s FETH fund leading the way by securing $4.7 million in inflows. Moreover, Invesco’s QETH followed with $1.79 million, and Bitwise’s ETHW added $1.69 million. Grayscale’s ETHE led in outflows, losing $31.86 million on Wednesday, bringing the total reduction in ETH holdings to $2.23 billion to date.

What do you think about Wednesday’s spot bitcoin and spot ether exchange-traded fund action? Share your thoughts in the comments section below.

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