Both spot Bitcoin and Ethereum exchange-traded funds (ETFs) experienced contrasting inflow patterns recently. On December 31, following a notable market downturn, Bitcoin ETFs recorded a modest rebound, while Ether ETFs demonstrated a strong comeback after a period of outflows.
Recent data reveals that the twelve spot Bitcoin ETFs saw a net inflow of $5.32 million on December 31, effectively halting a two-day outflow streak that had driven over $723 million out of these funds. The bulk of the inflows can be attributed to Fidelity’s FBTC, which welcomed $36.81 million into its coffers. Bitwise’s BITB and Grayscale Bitcoin Mini Trust also contributed positively, pulling in $8.68 million and $4.14 million, respectively.
However, not all Bitcoin-focused funds shared the same fortune. BlackRock’s IBIT faced outflows for the second day in a row, losing $23.45 million. Similarly, ARK 21Shares’s ARKB and Grayscale’s GBTC recorded outflows of $11.23 million and $9.63 million respectively. Meanwhile, the remaining six Bitcoin ETFs experienced neutral activity on the day.
Total daily trading volume for these investment products hit $2.25 billion on December 31, a decrease from $3.14 billion the previous day. At that time, Bitcoin (BTC) traded at $93,545 per coin, showing a slight gain of 1.1% over the last day, despite the overall unease in the market.
In stark contrast, the nine spot Ethereum ETFs staged a robust recovery on the same day with $35.93 million flowing into these funds, following a previous outflow that amounted to $55.41 million. Leading the inflows was Fidelity’s FETH, which attracted $31.77 million. The Grayscale Ethereum Mini Trust also saw a positive influx of $9.77 million. On the flip side, Grayscale’s ETHE experienced an outflow that somewhat tempered the enthusiasm, shedding $5.61 million, while the other Ether ETFs reported no significant activity.
As of the latest updates, Ethereum (ETH) traded at $3,337, reflecting a modest decrease of 0.5% over the past 24 hours.
The differences in performance between Bitcoin and Ethereum ETFs highlight the dynamic nature of the crypto market. While Bitcoin is still grappling with some challenges, Ethereum ETFs appear to be regaining momentum, suggesting that investors are closely watching for shifts in sentiment. As both asset types fluctuate, the market’s reactions can evoke a myriad of emotions, from excitement to concern, making it vital for investors to stay informed about their choices.
