Ethereum ETFs Falter With $39M Losses as Bitcoin ETFs Steal the Show

CN
4 hours ago

Spot bitcoin ETFs clearly stole the spotlight. Leading the pack, Blackrock‘s IBIT fund on Nasdaq gained $89.33 million. Fidelity’s FBTC fund on CBOE followed with a solid $59.95 million. Grayscale’s Bitcoin Mini Trust on NYSE raked in $54.39 million, while Bitwise’s BITB fund on NYSE saw $24.37 million in inflows. Ark Invest and 21shares’ ARKB fund on CBOE added $13.22 million to its tally, with Vaneck’s HODL fund on CBOE logging $7.74 million. Grayscale’s GBTC fund on NYSE rounded out the gains with a modest $5.82 million.

However, it wasn’t a win across the board. Several funds—including Valkyrie’s BRRR on Nasdaq, Invesco’s BTCO on CBOE, Franklin Templeton’s EZBC on CBOE, Wisdomtree’s BTCW on CBOE, and Hashdex’s DEFI on NYSE—reported no inflows for the day. That $254.82 million boost brings the year-to-date net inflows to $27.71 billion as of Jan. 11, 2024.

The ether funds painted a less rosy picture. Single-day flows for ethereum saw a loss of $39.08 million, according to sosovalue.com. Grayscale’s ETHE fund on NYSE led the outflows with $13.28 million, while Blackrock’s ETHA fund on Nasdaq reported $23.91 million in losses. Grayscale’s Ethereum Mini Trust on NYSE posted a $5.06 million outflow. Fidelity’s FETH fund on CBOE offered the only bright spot, with a modest inflow of $0.37 million.

Other ether funds, including Bitwise’s ETHW on NYSE, Vaneck’s ETHV on CBOE, Franklin Templeton’s EZET on CBOE, Invesco’s QETH on CBOE, and 21shares’ CETH, reported no inflows. Monday’s $39.08 million outflows brought the ether funds’ net inflows since July 23 down to $139.32 million.

As for trading activity, bitcoin ETFs recorded a hefty $4.79 billion in total volume, holding $95.93 billion worth of BTC—about 5.30% of bitcoin’s total market cap. Ether ETFs saw $464.23 million in trade volume, holding $9.33 billion worth of ETH, or 2.46% of the total supply. Bitcoin funds continue to attract institutional investment, while ethereum ETFs struggle to keep pace, reflecting shifting preferences in the cryptocurrency market.

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