As a seasoned analyst with years of experience in the crypto market, I find myself intrigued by this latest trend of outflows and inflows in Bitcoin and Ethereum ETFs. While it may seem like a rollercoaster ride for some, I see it as an opportunity to gauge investor sentiment and make informed decisions.
On September 11, exchange-traded funds (ETFs) tied to both Bitcoin and Ethereum in the U.S. collectively saw withdrawals, a reversal from the mutual influxes observed the day prior.
Based on information from SoSoValue, Bitcoin ETFs in the U.S., specifically 12 of them, experienced a total withdrawal of approximately $43.97 million on September 11th, breaking a two-day sequence of inflows or increases in investments.
Yesterday saw significant fund withdrawals, with ARK 21Shares’ ARKB leading the way at a whopping $54 million in outflows, according to SoSoValue. Grayscale’s GBTC came in second with net outflows totaling $4.6 million, and its Bitcoin Mini Trust experienced approximately $511,230 in withdrawals as well.
As an analyst, I’d rephrase that as: Today, Fidelity’s FBTC took the lead in terms of inflows, reporting a substantial $12.6 million in new investments. Invesco’s BTCO came in second with $2.6 million. The remaining seven Bitcoin ETFs, including BlackRock’s IBIT, showed no trading activity for the day. Interestingly, IBIT, the largest spot Bitcoin ETF by net assets, has not recorded any net inflows since August 26th.
In summary, there has been a general increase in investments towards these ETFs over the past three days, amounting to around $101.7 million in total for all Bitcoin-based ETFs.
Total trading volume for the 12 BTC ETFs jumped to $1.27 billion on Sept. 11, significantly higher than the $717 million seen the previous day. These funds have recorded a cumulative total net inflow of $17 billion since inception. At the time of writing, Bitcoin (BTC) was up 2.7% over the past day, trading at $57,932, per data from crypto.news.
As a researcher, I’m observing the flow of funds in U.S.-listed Ethereum ETFs on September 11th. Notably, a total of $542,870 was withdrawn from these nine ETFs, with VanEck’s ETHV leading the way with a significant outflow of $1.7 million. On the contrary, Fidelity’s FETH was the only ETF that saw inflows, amounting to $1.2 million, which, despite being positive, was overshadowed by the substantial outflows from ETHV and couldn’t compensate for the overall loss.
The remaining Ether ETFs remained neutral on that day.
As a crypto investor, I’ve noticed a significant surge in daily trading volume for these investment vehicles, reaching an impressive $126.2 million on September 11 – that’s a leap compared to the previous day. Interestingly, Spot Ether ETFs have collectively seen a net outflow of approximately $562.6 million since their inception. At the time this statement was written, Ethereum (ETH) was also showing a 1% increase, trading at roughly $2,354 per unit.
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2024-09-12 09:50