Highlights:
- Ethereum ETFs record third consecutive day of inflows while Bitcoin ETFs register losses.
- BlackRock led inflows in Ethereum ETFs as four Bitcoin ETFs witnessed outflows.
- ETF trends were reflected in BTC and ETH market actions, as both registered a drop in momentum.
Ethereum (ETH) Exchange Traded Funds (ETFs) have recorded a third consecutive day of inflows. The recorded profits signify a new milestone, as it became the first time such has happened after ETH ETFs graced the market. Contrary to ETH, Bitcoin (BTC) ETFs witnessed losses, underscoring the possibility of a switch in momentum.
🚨 US #ETF 14 AUG: 🔴$81M to $BTC and 🟢$11M to $ETH
🌟 BTC ETF UPDATE (final): -$81M
• The net flow turned negative after 2 days of being positive.
• #Grayscale (GBTC) saw its outflow double, from $28.6M to $56.9M.
• Four other major US Bitcoin ETFs, including BlackRock,… pic.twitter.com/48ppZ9LAJJ
— Spot On Chain (@spotonchain) August 15, 2024
Grayscale’s ETHE Continues to Bleed Despite Inflows
According to Sosovalue data, Grayscale Ethereum ETF (ETHE) maintained its outflow trends with about $16.95 million in losses. Like yesterday, ETHE witnessed the only loss, resulting in a cumulative net outflow of approximately $2.34 billion. Additionally, ETHE boasts $5.05 billion in net assets, underscoring the propensity for a more pronounced outflow in the future.
Out of the remaining eight Ethereum ETFs, four registered inflows. As usual, BlackRock Ethereum ETF (ETHA) led the inflows with roughly $16.13 million. Fidelity Ethereum ETF (FETH) and Bitwise Ethereum ETF (ETHW) followed closely in the second and third spots. Both recorded about $6.65 million and $2.67 million in profits. Grayscale Mini Ethereum ETF (ETH) also witnessed about $2.26 million in inflows.
Meanwhile, all other Ethereum ETFs, excluding those highlighted above, maintained zero flows from yesterday’s statistics, excluding Invesco Ethereum ETF (QETH). QETH registered $0.8 million in its August 13 data. Overall, Ethereum ETFs total net inflow was roughly $10.77 million, with a cumulative total net worth of about $365.89 million in losses. The total value traded was $155.91 million, while total net assets reflected $7.54 billion.
Four Bitcoin ETFs Record Losses
While only six Bitcoin ETFs were active on August 14, only two registered gains, while the remaining four witnessed losses. For-profits, Franklin Bitcoin ETF (EZBC) led with about $3.42 million. BlackRock Bitcoin ETF (IBIT) followed closely with roughly $2.68 million.
As expected, Grayscale Bitcoin ETF (GBTC) topped the losses chart with about $56.87 million in outflows. Fidelity Bitcoin ETF (FBTC) followed GBTC closely with about $18.05 million in losses. ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB)also recorded losses of approximately $6.77 million and $5.78 million, respectively.
With the statistics above, Ethereum ETFs recorded losses of about $81.36 million in daily net inflow. Cumulative net inflow was positive at roughly $17.32 billion, while the total value traded was $1.3 billion. Currently, total net assets are about $53.6 billion, representing 4.59% of Bitcoin’s market capitalization.
ETF Trends Reflected in BTC’s Price as Token Drops Below $60,000
While Bitcoin traded comfortably above $60,000 yesterday, the token’s price has since dropped below the mark. The drop could imply reflections of the ETF outflows and general market outlook. At the time of press, Bitcoin is changing hands at about $58,400, mirroring a 4.2% decline in the past 24 hours. Within the same time frame, BTC registered minimum and maximum prices, ranging between $58,023.60 – $61,537.50.
ETH Records Slight Drop in Momentum Despite Ethereum ETFs Inflows
Unlike Bitcoin, Ethereum’s price drop was meager relative to yesterday. The world’s most valuable altcoin is trading at about $2,620, reflecting a 4.6% drop in the past 24 hours. Within a day interval, ETH registered minimum and maximum selling prices, ranging between $2,630.40 – $2,760.82.
