Crypto ETF Update: Bitcoin Surges with $41M Inflow, Ethereum Struggles with Massive Outflows
Recent data from Lookonchain shows a promising trend for Bitcoin within the realm of spot ETFs. The cumulative net flow on July 29 amounted to a positive influx of 601 BTC, valued at approximately $41.32 million. Notably, the iShares Bitcoin ETF, managed by Blackrock, recorded the highest single influx of 341 BTC, totaling around $23.5 million.
This ETF alone holds a substantial 338,470 BTC, equivalent to roughly $23.28 billion. Other significant contributions came from Fidelity Wise Origin Bitcoin Fund and ARK 21Shares Bitcoin ETF, with net inflows of 66 BTC and 463 BTC, respectively. Conversely, the Grayscale Bitcoin Trust saw a notable outflow of 623 BTC, indicating a shift in investor sentiment within that fund.
Ethereum ETFs: Analyzing the Divergence
The situation appears starkly different for Ethereum-based ETFs, which registered a net outflow of 44,413 ETH, valued at roughly $147.9 million on the same day. Grayscale’s Ethereum Trust marked a substantial reduction, with 111,023 ETH flowing out, indicating a possible reallocation or withdrawal of investment confidence by institutional players.
However, some funds like the Grayscale Ethereum Mini Trust and iShares Ethereum Trust reported inflows, adding 18,601 ETH and 26,667 ETH respectively, suggesting that interest in Ethereum still varies significantly across different funds. These contrasting movements highlight the nuanced investor behaviors and strategies that differentiate Ethereum investments from those in Bitcoin.
