US ETH ETFs broke their streak of four-day losses on Tuesday, with a total of $33.67 million in net inflows. This marked only the second day of net inflows since their launch, with the first being the day they debuted. BlackRock’s ETHA led the inflows with $117.98 million, followed by Fidelity’s FETH with $16.36 million, Franklin Templeton’s EZET with $3.73 million, and Bitwise’s ETHW with $3.52 million. Grayscale’s Mini Ethereum Trust (ETH) saw $12.36 million flow in, while its Ethereum Trust (ETHE) experienced net outflows of $120.28 million. VanEck, 21Shares, and Invesco did not see any inflows or outflows.
On the BTC side, Grayscale’s IBIT ETF saw the highest net outflows, totaling $73.6 million. Fidelity, Bitwise, VanEck, and Ark/21Shares also experienced net outflows ranging from $2.88 million to $7.88 million. BlackRock’s IBIT was the only fund to see net inflows, bringing in $74.87 million. The other BTC ETFs did not see any inflows or outflows. Overall, US BTC ETFs recorded net outflows of $18 million after a four-day inflow streak.
The outflows for BTC began after the cryptocurrency experienced losses over the weekend, rising to over $69,000 during the BTC 2024 event. However, prices dropped on Monday as the US Marshals Service transferred $2 billion worth of BTC to two wallets, sparking liquidation rumors and selling pressure. At the time of writing, BTC was trading slightly above $66,000.
Traders are anticipating further volatility in the market as major US technology firms like Apple, Amazon, and Meta prepare to release their earnings reports. Additionally, events like Wednesday’s FOMC meeting and Friday’s unemployment data announcement are expected to impact BTC price volatility in the coming days. Investors and traders are advised to stay informed and monitor these events closely for potential market movements.
