Spot Bitcoin ETFs See Sharp Return to Inflows This Week

In the U.S., spot Bitcoin exchange-traded funds (ETFs) saw a sharp return to inflows this week, with flows in positive territory for the first time

U.S. spot Bitcoin exchange-traded funds (ETFs) saw a return to inflows this week, albeit at a slower pace than last week.

According to data from ETF.com, Bitcoin ETFs saw a net positive activity of $45.14 million on Wednesday. This marks a sharp reversal from the roughly $554 million that left Bitcoin ETFs in the prior three trading days.

The largest inflows were gathered by BlackRock IBITs, to the tune of $52.52 million. WisdomTree also saw inflows in BTCW, drawing $10.5 million for the fund’s heaviest net intake yet.

Grayscale Bitcoin Mini Trust saw $9.71 million in net new inflows, and Bitwise BITB recorded around $3 million of new money coming into the fund.

In contrast, Grayscale’s converted GBTC fund was also alone in experiencing net outflows of a Bitcoin ETF Wednesday for $30.58 million. The remaining seven, including Fidelity’s FBTC and VanEck’s HODL, did not report any flows on Monday.

Spot Bitcoin ETFs had the largest trading volume of $1.79 billion on Wednesday, again second only to Tuesday’s $2.2 billion.

Since going live last month, the 12 Bitcoin ETFs have attracted a combined $17.23 billion in net inflows, a figure that exemplifies the broader demand for these products.

Meanwhile, spot Ethereum ETFs had net outflows of $23.68 million on Wednesday, a complete turnaround from the previous day.

The Grayscale ETHE had the largest outflows at $31.86 million and was in a negative spread position. However, some Ethereum ETFs recorded positive developments.

Fidelity’s FETH reported net inflows of $4.7 million, and Spot Ether funds from Bitwise and Franklin Templeton saw them, too.

The total daily trading volume for Ethereum ETFs stood at $322.85 million, and the cumulative net outflows of these funds have reached a new low since they were listed on July 23 — now at a loss of $387.35 million.

After the latest alterations from the spot and derivatives market, cryptocurrency prices have been impacted as well.

Bitcoin is up 0.95% in the past day and trades at $5739 as of press time. Ether is down by just shy of 3% at $2.423.

What makes these prices so relevant is that they illustrate another week of volatility and shifting investor sentiment within the market.

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