Bitcoin ETFs Outflows Exceed $120M, Ethereum ETFs Flow Green

• Bitcoin ETFs now hold $55.15 billion in net assets or 4.67% of BTC’s market cap.
• Grayscale’s primary BTC and ETH funds have seen a combined $23.14 billion in cumulative net outflows.
• Ethereum ETFs command $6.47 billion in net assets or 2.27% of ETH’s market cap.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have seen mixed results as bearish market conditions sweep the markets.

Bitcoin ETFs

As per SoSoValue, Bitcoin ETFs have seen a third day of outflows this week, collectively shedding $120.76 million on Oct. 10, 2024.

Leading the losses, Fidelity’s Wise Origin Bitcoin Fund (FBTC) shed $33.79 million from its portfolio. Close behind, the ARK 21Shares (ARKB) Bitcoin ETF posted $30.30 in net outflows.

The Grayscale Bitcoin Mini Trust (BTC) saw its fourth-ever day of outflows following a nine-day neutrality streak. With $21.16 million recorded in exits, this would be the fund’s largest day of outflows since launching on July 31, 2024.

Grayscale’s Bitcoin Trust (GBTC) also saw outflows, losing a further $18.52 million from its outflow-ridden fund. To date, GBTC has seen $20.17 billion in cumulative net outflows.

BlackRock’s iShares Bitcoin Trust (IBIT) posted a modest $10.83 million in net outflows. This marks its fifth-ever day of outflows. IBIT has seen a wildly impressive $21.7 billion in cumulative net inflows.

Finally, the Bitwise Bitcoin ETF (BITB) shed $6.16 million from its fund.

Ethereum ETFs

According to SoSoValue data, Ethereum ETFs saw a rare day of inflows, bagging a collective $3.06 million, and the results are interesting.

Up top, BlackRock’s iShares Ethereum Trust (ETHA) captured $17.85 million in net inflows, raising its cumulative net inflow to a solid $1.21 billion.

The Grayscale Ethereum Mini Trust (ETH) made an increasingly rare appearance, bagging a humble $3.34 million. Grayscale’s spin-off fund has seen just $297.87 million in cumulative net inflows since launch.

Pushing the figures into the red, Fidelity’s Ethereum ETF (FETH) saw a rare day of outflows, posting $3.54 million in fund exits. Close behind, the Bitwise Ethereum ETF (ETHW) saw $4.23 million in outflows.

Finally, the Grayscale Ethereum Trust (ETHE) was the loss leader for the day, with $10.37 in net outflows. Since its launch, ETHE has seen $2.97 billion in cumulative net outflows and not a single day of inflows.