Ethereum ETF fund outflows reached $79.2 million on Monday, driven by Grayscale's activity, while Bitcoin ETFs recorded inflows.
Ethereum ETF Outflows
On Monday, the largest Ethereum ETF outflows since July were recorded, totaling $79.21 million. Grayscale's Ethereum Trust (ETHE) saw the highest outflows, with $80.55 million withdrawn. In comparison, Bitwise's ETHW fund saw minor inflows of $1.34 million, while the other seven funds showed no activity.
Bitcoin ETF Inflows
Despite significant outflows from Ethereum ETFs, Bitcoin ETFs have been recording net inflows. On Monday, Bitcoin ETFs attracted $4.56 million. Leading the inflows was Fidelity's FBTC with $24.93 million, followed by BlackRock's IBIT with $11.54 million. However, Grayscale's GBTC lost $40.33 million against the inflows recorded by other Bitcoin ETFs.
Market Analysis
The total trading volume for the nine Ethereum ETFs rose to $167.35 million following the significant outflows from Grayscale's fund. Meanwhile, the trading volume for the twelve Bitcoin ETFs decreased to $949.72 million. These data highlight the volatility and dynamism in the cryptocurrency fund market.
Current events in the cryptocurrency market indicate significant shifts in investment flows between Ethereum and Bitcoin ETFs. Despite outflows from Ethereum ETFs, Bitcoin ETFs continue to attract capital.
Comments