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- Ether ETFs recorded a net inflow of $5.84 million on August 28, ending a 9-day streak of outflows.
- Bitcoin ETFs saw $105 million in outflows, marking the second consecutive day of negative flows.
- Ether’s inflow helped the second-largest crypto recover slightly.
US spot Ether exchange-traded funds (ETF) recorded its fresh hit of inflow, ending a 9-day outflow streak. This was the longest period of continuous outflow seen by ETH ETFs since they launched on July 23. The second biggest crypto also surged by over 3% in the last 24 hours, reflecting the positive momentum building in.
On the same day, Bitcoin spot ETFs faced $105 million in outflows, marking the second consecutive day of negative flow. BTC posted a marginal surge over the last day and is trying to reclaim the $60K price level.
Ether ETFs record $5.8 million inflow
According to the data shared by Sosovalue, Ether ETFs registered a total net inflow of $5.84 million on August 28. This positive flow of funds comes in after a long break of 9 trading days. These investment funds have cumulatively seen $115 million in outflows over the 9 days.
BlackRock’s ETHA led with the $8.4 million inflow after five days of zero movement. It has recorded a net inflow of $1.01 billion till now. Fidelity’s FETH was the other player who printed a green index with $1.26 million.Â
Grayscale’s ETHE is the only fund among them all to post an outflow of $3.81 million. The investment fund has seen a cumulative outflow of $2.56 billion.
Ether saw a recovery as the flow of ETH-linked ETFs turned green. The second biggest crypto price jumped by almost 4% over the last day. Meanwhile, it has seen a decline of 24% in the past 30 days. ETH is trading at an average price of $2,550 at press time.
Bitcoin ETFs report consecutive outflows
Spot Bitcoin ETFs are facing a rough patch lately as they posted back to back 2 days of negative flows. BTC ETFs reported $105 million in outflows on August 28 after witnessing $127 million outflowing on August 27. However, no US BTC ETF saw an inflow yesterday.
Ark 21Shares Bitcoin ETF (ARKB) led with a $59.3 million outflow, marking the second consecutive day ARKB has seen high withdrawals. BlackRock’s ETHA inflows on the day crossed $8.4 million, while Fidelity’s FBTC and VanEck’s HODL saw more than $10 million of negative flow for each.
Grayscale Mini (BTC) recorded the first outflow ever of $8.77 million. Its cumulative net inflow stands at $582 million.
Despite the fresh withdrawals seen in the BTC ETF market, the biggest crypto surged marginally. Bitcoin is trading at an average price of $59,625 after facing a decline of 14% in the last 30 days.
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Ashish Kumar
Ashish Kumar is a crypto and financial journalist with eight years of newsroom experience. He covers what’s happening with crypto markets, regulation, DeFi, and exchange ecosystems. He has worked with Coingape, Todayq, and Newsroompost. Ashish holds a PGDP in English Journalism from the IIMC. He has also interviewed industry figures including Arthur Hayes, Yat Siu, Austin Federa, and more.
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