According to data from SoSoValue, on Tuesday, Fidelity’s FBTC received a total of $49 million in inflows while Grayscale’s GBTC experienced a drain of $30.3 million. However spot bitcoin exchange-traded funds in the US saw net inflows of $31 million on same day. This is noteworthy as it follows seven consecutive trading days of net withdrawals for bitcoin funds.
Breaking down the inflows further, Bitwise’s BITB came second with15 million, and VanEck’s HODL received deposits amounting to $ million. On the other hand, Grayscale’s GBTC recorded outflows of $303 million. Additionally, Ark Invest and 21Shares’ ARKB saw net withdrawals $6 million.
Interestingly, despite a daily transaction volume of $1.1 billion Tuesday, BlackRock’s IBIT – the largest spot bitcoin fund by net asset value – had no flows during this period. Similarly, other funds such as Templeton, Valkyrie, Galaxy Digital, and Invesco also observed zero.
Looking ahead to Ethereum-related developments in the cryptocurrency market: since their debut in January this year,
the eleven spot bitcoin funds have accumulated an net inflow of
$14.42 billion by Tuesday
.
Meanwhile,
U.S.-based issu have been actively working towards launching spot ether ETFs following their conditional clearance from the SEC last month
.
last week,
companies submitted revised S-1 registration statements for these ETFs
.
It is anticipated that spot Ethereum ETFs will make their debut next week based on information provided by Eric Balchunas from Bloomberg who is senior ETF analyst.
Matt Hougan,
CIO at Bitwise believes that within its 18 months after launching in the U.S., spot ether exchange-traded funds (ETFs) could attract approximately
$15 billion in net inflows
which would be remarkable if achieved.