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Ethereum ETFs gain despite Grayscale outflows; Bitcoin ETFs see outflows.
Additionally, Grayscale’s Ethereum ETF (ETHE) kept losing money, but overall Ethereum ETF flows were positive on July 30. With a loss of $120.3 million, Grayscale’s ETHE was the only ETF that Farside Investors tracked yesterday. From the 23rd of July until now, the ETF has lost money. From that point on, $1.8 billion has been taken out of the fund.
Yesterday, a lot of money came into other funds, which more than made up for the money that left ETHE. Blackrock’s ETHA got another $118 million, which shows that people are sure about it. The FETH from Fortress raised $16.4 million, and the Ethereum Mini Trust from Grayscale, which is cheaper, raised $12.4 million.
Both ETHW and EZET made more money than other coins. EZET made $3.55 million, and ETHW made $3.7 million. The other three Ether ETFs, CETH from 21Shares, ETHV from VanEck, and QETH from Invesco Galaxy, did not change at all on Tuesday.
Decline in trading volume and outflows impact bitcoin ETFs
Based on statistics from SoSoValue, $563.22 million worth of these spot Ether ETFs were traded every day on July 30. This was less than the $773.01 million that was traded on July 29 and the $1.11 billion that was traded on the first day.
On the other hand, on July 30, $18.3 million left the 11-spot Bitcoin ETFs in the U.S. According to data from Farside, this ended a four-day streak of positive flows. IBIT from BlackRock was the only Bitcoin ETF to see net gains, with $74.87 million coming into the fund.
The Grayscale Bitcoin Trust (GBTC) kept going down, and with $73.6 million in net outflows, it had the biggest drop of all the rival products. Ark and 21Shares’ ARKB came in second with $7.9 million in net losses. VanEck HODL came in third with $5.6 million, Bitwise BITB came in second with $3.2 million, and Fidelity FBTC came in third with $2.9 million.
SoSoValue says that one of these spot Bitcoin ETFs was traded every day for $1.37 billion on Tuesday. It wasn’t as much as the $2.68 billion swapped on Monday or the $4.66 billion swapped on the first day.
Diverging ETF market trends
Spot BTC and ETH ETFs are moving at different speeds. The reason for this is that CoinGecko says the value of all cryptocurrencies in the world has dropped by 0.38 percent in the last 24 hours, to $2.39 trillion. For both U.S. Ethereum ETFs and Bitcoin ETFs, the day was a turn around. The net flow of money into spot Bitcoin ETFs was $124.1 million on July 29, while the net flow out of spot Ether ETFs was $98.3 million.
Zaheer Ebtikar, founder and chief business officer of Split Capital, wrote about the good change on July 31 in an X post. It was “definitely some rotating capital,” he said, since on July 30, Bitcoin ETFs lost $18.3 million.
Expert Mads Eberhardt at Steno Research said just two days ago, on July 29, that the big losses from Grayscale’s ETHE would likely slow down this week. It looks like this trend has already begun.
It had dropped about 1% in value, to $66,270, since this was written. The most valuable altcoin on the market, ETH, has also gone down a little over the past day. It is now worth about $3,320, down about 0.5%.
The ups and downs of the bitcoin ETF market show how quickly investors and market trends can change. There are a lot of people, both big and small, who are very interested in these ETFs as the market changes. When things aren’t clear, they’re looking for chances. As the latest trade data shows, it’s important to stay up to date and flexible when investing in bitcoin.
