2024-9-25 20:51 |
Overall, US spot Ethereum ETFs saw $79.21 million in outflows on Monday, the largest since July. Grayscale’s ETHE recorded a significant $80.55 million outflow on the same day. Spot Bitcoin ETFs had modest inflows of $4.56 million, led by Fidelity’s FBTC.
On Monday, US spot Ethereum ETFs experienced their largest daily outflows since late July, totalling $79.21 million. This significant drop was primarily driven by the Grayscale Ethereum Trust (ETHE), which recorded an outflow of $80.55 million, marking its most substantial outflow since July 31.
According to data from Sosovalue, ETHE was the only spot Ethereum ETF to report outflows on that day, highlighting a challenging period for the asset class.
In contrast, Bitwise’s ETHW managed to post a modest inflow of $1.34 million, while the remaining seven spot Ethereum ETFs registered no significant movement.
The total trading volume for the nine Ethereum ETFs reached $167.35 million, reflecting an increase from $139.47 million the previous Friday. This uptick in trading volume indicates that despite the outflows, investor activity in the Ethereum ETF space remains notable.
Meanwhile, spot Bitcoin ETFs fared better, experiencing modest inflows of $4.56 million on the same day. This marks the continuation of a three-day streak of inflows, led by Fidelity’s FBTC, which attracted $24.93 million. BlackRock’s IBIT, the largest Bitcoin ETF by net assets, also saw positive movement, with inflows of $11.54 million.
However, Grayscale’s Bitcoin Trust (GBTC) recorded a $40.33 million outflow, making it the only spot Bitcoin ETF to face losses on Monday.
As the cryptocurrency market fluctuates, with Bitcoin dropping 1.1% to approximately $63,122 and Ether falling 1.32% to around $2,627, these recent developments underline the volatile nature of digital asset investments. Investors will be keenly watching how these trends evolve in the coming days.
The post US spot Ethereum ETFs see largest daily outflows Since July appeared first on CoinJournal.
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