Ethereum
Bitcoin ETFs see $31.1M inflows, Ethereum ETFs outflows as BTC dominance hits 56%
On July 25, 2024, data from Farside Investors showed mixed trends for Bitcoin and Ethereum ETFs. Bitcoin ETFs saw a slight increase overall. Of all Bitcoin spot ETFs, only BlackRock’s IBIT saw an inflow of $70.7 million, but this gain was offset by Grayscale’s GBTC, which declined by $39.6 million. The net change for Bitcoin ETFs yesterday was positive by $31.1 million.
Ethereum ETFs, however, continued to post net outflows. BlackRock’s ETHA saw an inflow of $70.9 million and Fidelity’s FETH added $34.3 million. Bitwise’s ETHW increased by $16.3 million and VanEck’s ETHV increased by $8.0 million. Invesco’s QETH saw a smaller inflow of $6.2 million. Conversely, Grayscale’s ETHE saw large outflows of $346.2 million, while its Mini ETH ETF saw an inflow of $58.1 million. Overall, the net change in Ethereum ETFs decreased by $152.4 million.
Ethereum ETF Feed (Farside Investors)
While Ethereum ETFs saw substantial outflows despite some positive inflows from other funds, Bitcoin ETFs managed to eke out a modest gain, indicating a different investor sentiment between the two leading cryptocurrencies. This is reflected in spot prices, as Bitcoin hit a 3-month high in dominance at 56.6%, and the ETHBTC ratio fell to a low of 0.479 BTC.
Latest Alpha Market Report
Disclaimer: The opinions of our authors are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, and CryptoSlate does not endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to the content of this article. Finally, CryptoSlate takes no responsibility if you lose money trading cryptocurrencies.