Bitcoin ETFs See $202M Net Inflows as Ether Funds Face Outflows

The U.S. spot Bitcoin exchange-traded funds (ETFs) recorded a robust $202.51 million in net inflows on Monday, marking the eighth consecutive day of positive movement in the sector.

According to data from SoSoValue, the 12 Bitcoin-focused funds collectively attracted a substantial $756 million over the past eight trading days. 

Individual Contributions

Monday’s largest inflow was dominated by BlackRock’s IBIT fund, which saw an impressive $224.06 million in net inflows, its highest since July 22. Other notable contributions came from Franklin Templeton’s EZBC, which brought in $5.52 million, and WisdomTree’s BTCW, which recorded $5 million in net inflows.

However, not all Bitcoin ETFs had a positive day. Bitwise’s BITB faced the largest net outflow, with $16.61 million exiting the fund. This was followed by $8.33 million outflows from Fidelity’s FBTC and $7.18 million from VanEck’s HODL. Six other funds, including Grayscale’s GBTC, remained stagnant with no significant flow activity.

Trading Volume

The overall trading volume for spot Bitcoin funds dipped to $1.2 billion on Monday, a decrease from the $3.12 billion observed last Friday, reflecting a return to more typical trading levels. Despite this, these funds have managed to accumulate a total of $18.08 billion in net inflows since their inception in January.

Ether ETFs

On the other hand, Ether-focused ETFs continued to struggle, recording their eighth consecutive day of net outflows. Monday’s outflows totaled $13.23 million, led by Grayscale’s ETHE, which saw $9.52 million in withdrawals. Fidelity’s FETH and Franklin Templeton’s fund also reported outflows of $2.69 million and $1.02 million, respectively. 

Notably, no Ether ETFs registered positive inflows on Monday, signaling a more cautious sentiment towards the cryptocurrency.

Ether’s trading volume stood at $125.73 million on Monday, a figure that contrasts sharply with the ongoing outflows, leading to a cumulative net outflow of $477.88 million from Ether funds.

As Bitcoin and Ether continue to chart divergent paths, speculation is rising within the crypto community about the potential approval of spot ETFs for Ripple and Solana by the SEC in the near future.