- On February 2, Bitcoin ETFs saw $561.89 million in net inflows.
- Ethereum ETFs remained under pressure the same day, posting net outflows of $2.86 million.
U.S.-listed spot Bitcoin Exchange-Traded Funds bounced back with inflows yesterday after four straight days of outflows, while Ethereum ETFs continue to see outflows for a third consecutive day.
On February 2, Bitcoin’s price dropped sharply to around $74,000 amid broader market volatility, where, U.S. spot Bitcoin ETFs recorded positive flows of $561.89 million, which is led by Fidelity Wise Origin Bitcoin Fund(FBTC) with $153.35 million in inflows, followed by iShares Bitcoin Trust(IBIT) with $141.99 million in inflows, as per SoSoValue data.
The third-highest inflows were brought in by the Bitwise Bitcoin ETF(BITB), and other funds such as Grayscale, Ark & 21Shares, VanEck, Invesco, and WisdomTree also posted inflows, as per the data. As of now, the cumulative total net inflow has come to $55.57 billion.
The positive flows indicate an institutional investor interest in spot Bitcoin ETFs following a recent phase of cautious sentiment. Previously, from January 27 to January 30th, Bitcoin ETFs have seen continuous outflows, which totaled around $1.495 billion. Before that, on January 26, which saw inflows of $6.84 million.
Ethereum Funds Face Continued Pressure
According to the SoSoValue data, while the U.S.-based spot Ethereum exchange-traded funds conversely saw outflows of $2.86 million on the same day, Fidelity, Bitwise, and VanEck funds post inflows, while BlackRock’s iShares Ethereum Trust (ETHA) alone saw $82.11 million outflows, which washed away other funds’ inflows. As of now, the cumulative total net inflow stands at $11.97 million.
On the same day, even U.S.based spot XRP ETFs saw outflows of $404.69K, which is led by 21Shares XRP ETF(TOXR), while Solana ETFs saw inflows of $5.58 million, breaking its two-day outflows streak, which is led by Bitwise Solana Staking ETF(BSOL).
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Source: https://thenewscrypto.com/u-s-spot-bitcoin-etfs-rebound-as-ethereum-etfs-extend-outflows/
