Bitcoin ETF from Fidelity sees 7th straight outflow as Ethereum ETFs attract more inflows

Bitcoin ETFs experienced $148.6 million in outflows on Aug. 6, according to data from Farside, marking the third consecutive trading day of such trends, although each outflow has progressively decreased. There were no reported inflows during this period. Fidelity’s FBTC led the outflows with $64.5 million, continuing its seventh consecutive trading day of outflows. Ark’s ARKB saw a $28.9 million outflow, Franklin Templeton’s EZBC experienced a $23.0 million outflow, and Grayscale’s GBTC had a $32.2 million outflow. Notably, BlackRock’s IBIT reported no activity, with zero inflows or outflows. Despite the outflows, total BTC ETF inflows stand at $17.2 billion.

In contrast, Ethereum ETFs showed a different trend with inflows. ETH ETFs saw a $98.4 million inflow, driven by BlackRock’s ETHA contributing $109.9 million, bringing its total net inflow to $869.8 million. Grayscale’s ETHE continued its pattern of reduced outflows, registering just $39.7 million, which pushed total outflows of all ETFs to $364.0 million, as per Farside data.

The data reveals a dynamic market environment for both Bitcoin and Ethereum ETFs, with differing patterns of investor behavior. While Bitcoin ETFs experienced consecutive days of outflows, Ethereum ETFs saw significant inflows during the same period. This indicates varying investor sentiments and strategies towards these two prominent cryptocurrencies.

The fluctuating flows in ETFs for Bitcoin and Ethereum reflect the ongoing evolution and maturation of the cryptocurrency market. Investors are closely monitoring these trends to gauge market sentiment and make informed decisions regarding their crypto investments. The contrasting trends in Bitcoin and Ethereum ETFs highlight the diverse perspectives and strategies prevalent among investors in the crypto space.

As the crypto market continues to evolve, ETF flows serve as crucial indicators of investor sentiment and market dynamics. The data from Farside provides valuable insights into the behavior of investors in the Bitcoin and Ethereum ETF space, shedding light on the shifting trends and preferences within the cryptocurrency investment landscape.