Ethereum

United

Bitcoin

Spot

Spot Bitcoin and Ethereum exchange-traded funds in the United States have recorded poor results this week as bears dominate the market sentiment.
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener noreferrer nofollow">data</a> provided by Farside Investors, spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) ETFs recorded a net inflow of roughly $300,000 yesterday, July 31. BlackRock’s iShares Bitcoin Trust (IBIT) saw $21 million in inflows, continuing its third consecutive month without any outflows.
On July 31, Grayscale also <a href="https://crypto.news/grayscale-debuts-bitcoin-mini-trust-as-spot-btc-etp-on-nyse-arca/" target="_blank" rel="noopener noreferrer nofollow">launched</a> its spot Bitcoin Mini Trust, with the BTC ticker, on NYSE Arca. The newly-born ETF registered $18 million in inflows on its debut day. However, the inflows into these two ETFs were neutralized by the outflows coming from Fidelity’s FBTC, Bitwise’s BITB, and Ark 21Shares’ ARKB, worth $38.7 million in total. The remaining investment products stayed neutral.&nbsp;
Data from Farside Investors shows that spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) ETFs <a href="https://crypto.news/us-spot-ether-etfs-end-4-day-negative-flow-streak-with-33-7m-in-inflows/" target="_blank" rel="noopener noreferrer nofollow">saw</a> $77.2 million in net outflows on July 31. Expectedly, the outflows came from Grayscale’s ETHE fund, worth $133.3 million. So far, the ETHE fund has registered $1.97 billion in net outflows since its launch on July 23.
You might also like: <a href="https://crypto.news/bitcoin-etp-lists-on-london-stock-exchange/" rel="noopener noreferrer nofollow"> Bitcoin ETP lists on London Stock Exchange </a>
On the other hand, Grayscale’s Mini ETH fund recorded $19.5 million in inflows yesterday. Fidelity’s FETH followed with $18.8 million in inflows while BlackRock’s ETHA fund saw only $5 million in inflows. VanEck’s ETHV, Bitwise’s ETHW, and Ark 21Shares’ CETH ETFs also registered $4.8 million, $4.7 million, and $3.3 million in inflows, respectively. Invesco’s QETH and Franklin Templeton’s EZET remained neutral.
The bearish sentiment around spot BTC and ETH ETFs comes as the broader cryptocurrency market takes a downturn. According to <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="noopener noreferrer nofollow">data</a> from CoinGecko, the global crypto market capitalization dropped by 3.1% over the past 24 hours and is currently sitting at $2.41 trillion.
Bitcoin is down by 3.2% in the past 24 hours and is trading at $64,275 at the time of writing. Ethereum plunged 4.6% over the past day and is currently changing hands at $3,170.
Read more: <a href="https://crypto.news/polymarket-ethereum-price-will-not-hit-all-time-high-in-2024/" rel="noopener noreferrer nofollow"> Polymarket: Ethereum price will not hit all-time high in 2024 </a>

Bitcoin ETFs hold inflows by string, Ethereum’s outflows start again

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