Spot Bitcoin ETFs in the United States recorded a net inflow of $50 million after trading on Thursday making it one of the smallest days of trading activity on the Bitcoin ETF products.
Ethereum on the underhand logged an inflow of $26.7 million making it the third time Ethereum ETFs have ended a trading day on a positive inflow since its day of launch.
According to data from Farside Investors UK, The Bitcoin ETFs which are now 12 in number logged a net inflow of $50.6 million after witnessing significant outflows in several of its products.
Newly launched Grayscale Bitcoin Mini trust led the inflows recording a net inflow of $191.1 million yesterday. In second place was Blackrock’s IBIT which recorded an inflow of $25.9 million. The two ETF products were the only ones to record inflow for the day.
The Inflows by the above two ETFs were countered by outflows from five ETF products including Grayscale’s GBTC which led the outflows with a net outflow of $71.3 million, Fidelity’s FBTC came in second with a net outflow of $48.4 million and Ark invest and 21 shares AKRB recorded $22.42 million in Outflows. Bitwise and VanEck also recorded significant outflows while Valkyrie reported no flows yesterday.
The total daily trading volume for the 12 bitcoin ETFs amounted to around $2.91 billion on Thursday according to data from Soso value
How is Bitcoin faring at the moment?
Bitcoin at the moment is exchanging hands for $64118 experiencing a 0.1% drop in price in the last 24 hours with a maximum price of $65,507 and a minimum price of $62,303.
The crypto asset is down by 4.2% over the last 7 days and 12.8% down from its all-time high of $73,737.
Ethereum ETFs record Third day of Inflow since launch
The nine-spot Ethereum ETFs recorded its third day of inflow since launch with a net inflow of $26.75 million reversing yesterday’s outflow of $77 million.
According to Data from Farside Investors UK, Blackrock, ‘s ETHA led the inflows with a net inflow of $89.6 million followed by Fidelity’s ETF product recording $11.7 million, and Bitwise Etf product recording $3.3 million in inflows.
The inflows were offset by a heavy outflow on Grayscale’s ETHE of $77.95 million on Thursday.
How is Ethereum faring at the moment?
Ethereum at the moment is exchanging hands for $3,138 dropping by 1.2% in the last 24 hours with a maximum price of $3,214 and a minimum price of $3,080.
The crypto asset is down by 35.5% from its all-time high of $4,878
What to Know
- The Ethereum funds saw a total trading volume of $331.11 million on Thursday, which shows a decline in trading volume since their debut on July 23, when about $1.11 billion was traded.
- Bitcoin ETF products which were initially 11 in number are now 12 following the launch of Grayscale’s Bitcoin Mini Trust on Wednesday.