Ethereum (ETHUSD)

[ap17]

OUTFLOWS ARE HERE 📉
BREAKING: US spot bitcoin ETFs saw $168 million in net outflows yesterday amid market turbulence

Bitcoin
The last few days have been tough to say the least…

But now that the markets have seemingly begun to recover, let’s take a look at what’s going on with the ETFs.

Did the ETF holders buy or sell?

Let’s start with Bitcoin.

And…

Unfortunately, yesterday the Bitcoin ETFs saw net outflows of $168.4 million.

Here’s the breakdown:

Grayscale BTC: $21.8 million 🥇

VanEck HODL: $3.0 million 🥈

Bitwise BITB: $2.9 million 🥉

Bitcoin
One of the most surprising things here is Fidelity’s outflow streak is now up to 6 days in a row (-$250.9 million).

BlackRock also recorded a neutral day of $0.

ETF analyst Eric Balchunas also noted that this outflow is only ~0.3% of the total assets under management.

That’s basically nothing compared to the selloff’s seen in other markets.

EB tweet
Now onto Ethereum.

And things were much better on this front…

Yesterday the Ethereum ETFs saw net inflows of $48.8 million. (biggest day since launch)

Here’s the breakdown:

BlackRock ETHA: $47.1 million 🥇

VanEck ETHV: $16.6 million 🥈

Fidelity FETH: $16.2 million 🥉

Grayscale’s ETHE was the only fund to record an outflow on the day, with -$46.8 million.

It looks like investors took the opportunity to buy the Ethereum dip.

Ethereum
However…

In total, the Ethereum ETFs are still sitting on net outflows of $462.4 million since launch.

But the outflows from Grayscale’s ETHE are definitely slowing down.