The US crypto ETF market witnessed another shift in terms of flows on the 12th of September. As per a well-known on-chain analytics company Spot On Chain
The US crypto ETF market encountered another shift in terms of flows on the 12th of September.
As per a well-known on-chain analytics company Spot On Chain, Bitcoin ETFs experienced $39M in a positive inflow while Ethereum ETFs witnessed $20M in an outflow, expressing contrasting market developments.
The analytics firm disclosed the details of the respective flows on its social media account.
Particularly, institutional investors are turning to Bitcoin to a great extent. Out of 11 $BTC ETFs, 6 witnessed positive flows. ARK 21Shares ($ARKB) Led the Bitcoin ETF market by adding $18.3M.
Additionally, Fidelity ($FBTC) recorded $11.5M in inflows. Apart from that, Grayscale Mini ($BTC) saw a net inflow of nearly $5.2M. VanEck ($HODL) beheld $4.9M in inflows while Franklin ($EZBC) recorded an inflow of $3.4M.
Moreover, Bitwise ($BITB) experienced $2.2M in inflows. The only Bitcoin ETF that went through an outflow was Grayscale ($GBTC), with $6.5M leaving it.
However, Irrespective of the inflow, the overall volume has stayed slightly modest. In this respect, none of the $BTC ETFs went beyond the $20M level in inflows.
The total $ETH ETF outflow accounts for approximately $20M. VanEck ($ETHV) emerged as the only exchange-traded fund among the Ethereum ETFs witnessing outflows.
Thus, $20.1M left the ETF in total on the 12th of this month. Other than this, none of the remaining 8 $ETH ETFs saw any flows at all.
This denotes a lack of the latest investment in the respective products in the meantime. This could signify there is a reluctance among the investors to commit additional capital to $ETH ETFs.
Otherwise, they are potentially waiting for vibrant market signals in advance of re-entering.
Keeping that in view, the recent statistics about the crypto ETF market mirror a contrasting investor sentiment.
While Bitcoin ETFs see significant inflows that point toward a renewed interest, Ethereum ETFs are going through continued outflows that raise questions about investor confidence in the short term.
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