Spot Bitcoin ETFs See Inflows While Ethereum ETFs Hit Outflow Streak as Market Consolidates

Spot Bitcoin and Ethereum exchange-traded funds in the United States have started the week moving in different directions as the broader cryptocurrency market

Spot Bitcoin exchange-traded funds in the United States saw inflows to the tune of $254.82 million on Monday, as noted by data from SoSoValue. This marks a departure from the previous two days, which saw outflows of $770.77 million from the funds.

Among the 12 spot Bitcoin ETFs, BlackRock's IBIT led the way with inflows of $89.33 million, following a day of no activity. Notably, IBIT, with net assets of $43.12 billion, has now surpassed the Gold Trust from iShares, which currently holds $32.67 billion in net assets.

Fidelity's FBTC and Grayscale Bitcoin Mini Trust also contributed to the inflows with $59.95 million and $54.39 million, respectively, on Monday. Other inflows were recorded by Bitwise's BITB ($24.37 million), ARK 21Shares' ARKB ($13.22 million), VanEck's HODL ($7.74 million), and Grayscale's GBTC ($5.82 million).

The remaining five spot Bitcoin ETFs had a neutral day with no reported inflows or outflows.

Meanwhile, spot Ethereum ETFs experienced net outflows of $39.08 million on Monday, according to data from SoSoValue. This marks the second week of trading for these new investment products, and the outflows follow Monday's batch, bringing the total outflows to over $102.19 million.

The majority of the outflows on Monday were集中 in BlackRock's ETHA, from which $23.91 million flowed out. Grayscale's ETHE and Ethereum Mini Trust also saw outflows of $13.28 million and $5.06 million, respectively.

Fidelity's FETH was the only Ethereum ETF to report inflows, to the tune of $3.17 million on Monday, while the remaining five ETFs had no activity.

As the broader cryptocurrency market experiences consolidation, with a slight drop of 0.3% in capitalization over the past 24 hours according to CoinGecko, the momentum for spot Bitcoin and Ethereum ETFs seems to be moving in different directions.