On September 12, the US crypto ETF market witnessed another shift in terms of flows. According to the well-known on-chain analytics company Spot On Chain, Bitcoin ETFs experienced $39M in positive inflows, while Ethereum ETFs saw $20M in outflows.
Key Highlights
The US crypto ETF market has shown different trends for Bitcoin and Ethereum. According to Spot On Chain, Bitcoin ETFs express increased interest from investors, whereas Ethereum ETFs continue to experience outflows.
Bitcoin ETF Inflows
The Bitcoin ETF market sees a positive rebound after a period of weak inflows. A net inflow of $39M suggests a renewed interest in the leading crypto investment vehicle. Institutional investors, in particular, are turning to Bitcoin. Out of 11 BTC ETFs, six witnessed positive flows. ARK 21Shares ($ARKB) led the BTC ETF market with an inflow of $18.3M. Additionally, Fidelity ($FBTC) recorded $11.5M in inflows, Grayscale Mini ($BTC) saw a net inflow of nearly $5.2M, VanEck ($HODL) held inflows of $4.9M, Franklin ($EZBC) recorded an inflow of $3.4M, and Bitwise ($BITB) experienced $2.2M in inflows. The only Bitcoin ETF that saw an outflow was Grayscale ($GBTC), with $6.5M leaving it. However, despite the inflow, the overall volume remained relatively modest, with none of the BTC ETFs surpassing the $20M level in inflows.
Ethereum ETF Outflows
Conversely, Ethereum ETFs continue to record negative flows for the second consecutive day. The total ETH ETF outflow accounts for approximately $20M. VanEck ($ETHV) emerged as the only exchange-traded fund among the Ethereum ETFs witnessing outflows, with $20.1M leaving the ETF on the 12th. None of the remaining eight ETH ETFs saw any flows. This suggests a reluctance among investors to commit additional capital to Ethereum ETFs, or they might be waiting for clear market signals before re-entering.
The recent statistics about the US crypto ETF market reflect differing investor sentiments. While Bitcoin ETFs see significant inflows pointing toward renewed interest, Ethereum ETFs are experiencing continued outflows, raising questions about investor confidence in the short term.
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