Key Points
- U.S. spot Ethereum ETFs experienced net inflows of $33.7 million on July 30, despite continued outflows from Grayscale’s ETF.
- On the same day, U.S. spot Bitcoin ETFs saw net outflows of $18.3 million, breaking a four-day streak of positive flows.
Nine U.S. spot Ethereum exchange-traded funds (ETFs) collectively netted inflows of $33.7 million on July 30, ending a four-day streak of negative flows.
ETF Performance
Despite Grayscale’s ETHE ETF experiencing net outflows of $120.3 million, the overall Ethereum ETF flows remained positive. Since its launch on July 23, ETHE has seen a total of $1.8 billion in outflows.
However, these outflows were offset by significant inflows into other funds. Blackrock’s ETHA led the pack with $118 million, followed by Fidelity’s FETH with $16.4 million, and Grayscale’s low-fee Ethereum ETF, Ethereum Mini Trust, with $12.4 million.
Franklin’s EZET and Bitwise’s ETHW also reported inflows of $3.7 million and $3.5 million respectively. The remaining three ETFs, 21Shares’s CETH, VanEck’s ETHV, and Invesco Galaxy’s QETH, saw no net flows.
Bitcoin ETFs
Meanwhile, the 11 spot Bitcoin ETFs in the U.S. experienced net outflows of $18.3 million on the same day. Only BlackRock’s IBIT recorded net inflows, with $74.87 million entering the fund.
The Grayscale Bitcoin Trust (GBTC) saw the largest net outflows among the competing products at $73.6 million. This was followed by Ark and 21Shares’ ARKB with $7.9 million, VanEck HODL with $5.6 million, Bitwise BITB with $3.2 million, and Fidelity FBTC with $2.9 million.
The global cryptocurrency market capitalization saw a 0.38% decline over the past 24 hours, standing at $2.39 trillion.
On July 29, spot Bitcoin ETFs recorded $124.1 million in net inflows, while spot Ether ETFs saw $98.3 million in net outflows. This trend reversed on July 30, with Ethereum ETFs seeing inflows and Bitcoin ETFs experiencing outflows.
Split Capital founder and CIO Zaheer Ebtikar noted the positive shift, attributing it to “rotating capital”. Steno Research senior analyst Mads Eberhardt predicted that the substantial outflows from Grayscale’s ETHE would likely taper off this week, a trend that seems to have already begun.
At the time of writing, the price of BTC had dropped by about 1% to $66,270. ETH, the largest altcoin in the crypto market, has also experienced a slight decline of about 0.5% over the past day, currently trading around $3,320.
