Ethereum ETF Inflow from BlackRock Exceeds Bitcoin ETF Inflow
Recent data from Farside indicates that Bitcoin exchange-traded funds (ETFs) saw an outflow of $18.3 million on July 30, marking the first outflow since July 23. This outflow affected three of the four major ETF issuers, including Bitwise’s BITB, ARK’s ARKB, and Fidelity’s FBTC. In contrast, BlackRock’s IBIT ETF stood out as the sole ETF issuer to experience inflows for the second consecutive trading day, with an addition of $74.9 million, surpassing the $20 billion mark in total net inflow. On the other hand, Grayscale’s GBTC witnessed its largest outflow since June 24, with $73.6 million exiting the fund, resulting in a total outflow of $18.9 billion. Despite these fluctuations, total ETF inflows still amounted to $17.7 billion.
Turning to the Ethereum ETF market, data from Farside reveals that there was a net inflow of $33.7 million on July 30, the first positive movement since July 23. Grayscale’s ETHE experienced its smallest outflow at $120.3 million, while BlackRock’s ETHA recorded its largest inflow since July 23, totaling $118.0 million. This brought the total outflows in Ethereum ETFs to $406.4 million. Notably, BlackRock’s ETHA saw more inflows than its Bitcoin counterpart, IBIT.
The data also shows that BlackRock’s ETHA surpassed IBIT in terms of inflows, which is an interesting development in the ETF market. These movements in both Bitcoin and Ethereum ETFs highlight the dynamic nature of the cryptocurrency market and the shifting investor sentiment towards these digital assets.
In summary, the recent data from Farside provides valuable insights into the flow of funds within the Bitcoin and Ethereum ETF markets, showcasing the ebb and flow of investor interest and capital in these popular cryptocurrency investment vehicles.
