Bitcoin ETF Outflows Persist as Ethereum Funds Post Modest Gains

Key Takeaways

• U.S. spot Bitcoin ETFs command $98.15 billion in BTC or 5.45% of its market cap.
• Grayscale’s primary BTC and ETH funds have combined outflows totaling almost $24 billion.
• U.S. Spot Ethereum ETFs hold $9.8 billion in ETH or 2.45% of its market cap.
• Bitwise has filed for a “market-weighted” Bitcoin-Ethereum exchange-traded product (ETP) with the SEC.

U.S. spot Bitcoin ( BTC ) exchange-traded funds (ETFs) have posted a second day of outflows following last week’s record-breaking inflows, whilst Ethereum funds work to pick up the slack with a humble day of inflows.

Bitcoin ETFs

As per SoSoValue, Bitcoin ETFs saw modest outflows totaling $122.78 million as traders fight to keep BTC’s price above $90,000 amid a surging market .

Bitcoin ETF flows. Source | SoSoValue

Taking home a modest gain, the Bitwise Bitcoin ETF (BITB) scored a cool $6.47 million in net inflows. Close behind, The Grayscale Bitcoin Mini Trust captured a modest $4.84 million, bringing its cumulative net inflows to $702.1 million.

Leading the losses, Fidelity’s Wise Origin Bitcoin Fund (FBTC) posted outflows totaling $95.68 million, though this barely touches the sides of its $17.91 billion in net assets.

The Grayscale Bitcoin Trust (GBTC) recorded $36.14 million in net outflows, bringing its cumulative net outflows to a dreadful $20.52 billion.

With just $19.6 billion in assets remaining, FBTC could soon flip GBTC. Finally, the Invesco Galaxy Bitcoin ETF (BTCO) posted a humble loss of $2.27 million.

Ethereum ETFs

As per SoSoValue, Ethereum ETFs are working to reverse their recent spat of outflows and rekindle a historic inflow run after posting $40.67 million in combined inflows for Nov. 27, 2024.

Ethereum ETF flows. Source | SoSoValue

Taking charge, BlackRock’s iShares Ethereum Trust (ETHA) captured a majority of the day’s inflows, bagging $50.13 million, raising its cumulative net inflows to $1.85 billion.

It’s followed by the Grayscale Ethereum Mini Trust, which garnered $16.28 million in net inflows, bringing its cumulative net inflow to a respectable $379.47 million.

Unfortunately, a handful of funds have dragged the figures down. Leading the losses, the Grayscale Ethereum Trust (ETHE) posted $20.11 million in net outflows. This brings its cumulative net outflows to a painful $3.37 billion. ETHE hasn’t seen one day of net inflows since launching.

The 21Shares Core Ethereum ETF (CETH) incurred smaller losses, dropping $2.81 million on its second-ever day of net outflows.

It’s closely followed by Fidelity’s Ethereum Fund (FETH), which similarly posted $1.65 million in exits. Finally, the Invesco Galaxy Ethereum ETF (QETH) shed just $1.16 million on its first-ever day of net outflows.