U.S. Spot Crypto ETFs See Mixed Fortunes… Bitcoin 'Ebb', Ethereum 'Flow'

In the U.S. crypto (cryptocurrency) exchange-traded fund (ETF) market, fund flows for Bitcoin and Ethereum diverged sharply. While spot Bitcoin ETFs experienced large outflows, Ethereum ETFs recorded net inflows.

On the 7th (local time), according to crypto data analytics firm Farside Investors, U.S.-traded spot Bitcoin ETFs saw net outflows of $243.2 million that day. Although Bitcoin prices had recently shown a rebound, it is interpreted that profit-taking after a short-term surge led to heavy selling.

Fidelity's 'FBTC' saw $312.2 million (about 440 billion won) leave in one day. Grayscale (GBTC) also recorded net outflows of $83.1 million, continuing capital flight. In addition, ARK Invest (ARKB) saw $29.5 million withdrawn, and Grayscale's mini trust (BTC) and VanEck (HODL) had outflows of $32.7 million and $14.4 million, respectively. Meanwhile, BlackRock's 'IBIT' alone posted net inflows of $228.7 million despite market selling.

Conversely, spot Ethereum ETFs showed buying dominance. According to Farside Investors' tally, Ethereum ETFs recorded total net inflows of $114.7 million (about 160 billion won) that day. BlackRock's 'ETHA' attracted $198.8 million of lump-sum funds. This amount exceeds the total net inflows for all Ethereum ETFs.

Grayscale continued selling. Grayscale's 'ETHE' saw $53.0 million leave, and the low-fee mini trust 'ETH' also had $32.5 million of outflows, which limited the upside. Fidelity (FETH) also recorded a small net outflow of $1.6 million.

In addition, Bitwise (ETHW) had net inflows of $1.4 million, 21Shares (TETH) had $1.6 million net inflows, and the remaining managers, such as Invesco (QETH), had no fund flow changes.