In the United States, spot Ethereum and Bitcoin exchange-traded funds (ETFs) have experienced significant activity recently. On Tuesday, spot Ethereum ETFs recorded a net inflow of $24.34 million, while spot Bitcoin ETFs saw a net inflow of $38.94 million. These figures signal a generally positive market sentiment, despite some funds starting to display negative trends.
How Are Spot Ethereum ETFs Performing?
Spot Ethereum ETFs continued their positive momentum from Monday into Tuesday. BlackRock’s ETHA fund led the charge with a net inflow of $49.12 million, marking a substantial rise from the previous day’s zero flows. Fidelity’s FETH fund attracted $5.41 million, and Invesco’s QETH fund saw $813,690 in net inflows. Conversely, Grayscale’s ETHE fund reported a negative flow of $31 million, a downturn from its previous zero flows.
On Tuesday, the daily trading volume for nine spot Ethereum ETFs reached approximately $191 million, down from $285.9 million on Monday. This indicates a slight dip in trading activity for spot Ethereum ETFs.
What’s Happening with Spot Bitcoin ETFs?
Spot Bitcoin ETFs also continued their positive inflows. BlackRock’s IBIT fund posted the highest net inflow of $34.55 million. Fidelity’s FBTC fund recorded an inflow of $22.56 million, while Bitwise’s BITB fund saw an inflow of $16.54 million. However, Grayscale’s GBTC fund continued its nine-day outflow streak, reporting $28.65 million. Additionally, Ark and 21Shares’ ARKB fund experienced a $6 million outflow.
Spot Bitcoin ETFs recorded a total daily trading volume of $1.18 billion on Tuesday, slightly down from the $1.3 billion recorded on Monday. This positive momentum saw Bitcoin’s price rise by 3.27% to $61,109 over the last 24 hours, while Ethereum increased by 2.1% to $2,713.
Key Insights for Investors
– Spot Ethereum ETFs saw a net inflow of $24.34 million on Tuesday.
– Spot Bitcoin ETFs received a net inflow of $38.94 million on Tuesday.
– Bitcoin’s price rose by 3.27% to $61,109 in the last 24 hours.
These insights indicate strong investor interest in both Ethereum and Bitcoin ETFs, reflecting a positive market environment. However, the negative flows in some major funds like Grayscale underscore the inherent volatility within market dynamics.
Overall, the current state of spot ETFs reveals continued popularity for both Ethereum and Bitcoin among investors, highlighting the ongoing optimism in the market.