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bitcoin and ethereum spot exchange-traded funds in the United States have started the week in different directions as the border cryptocurrency market faces corrections.
According data According to Farside Investors, bitcoin (btc) spot ETFs saw net inflows of $124.1 million by the end of trading on Monday, July 29. The entire day’s inflows, $205.6 million, came into BlackRock’s iShares bitcoin Trust (IBIT).
The Grayscale bitcoin Trust (GBTC) continued its downward movement, losing $54.3 million in outflows yesterday. The Bitwise bitcoin ETF (BITB) and the Fidelity Wise Origin bitcoin Fund (FBTC) also saw $21.3 million and $5.9 million in outflows, respectively.
Remaining btc spot ETFs remained neutral.
ethereum ETFs start the week with net outflows
According to data from Farside, ethereum (eth) spot ETFs registered Net outflows amounted to $98.3 million yesterday, marking the start of the second week of trading for new investment products.
As crypto.news previously reported, in the same pattern as the first week of ethereum ETF trading, Grayscale ethereum Trust (ETHE) was the only eth ETF with outflows, losing $210 million on July 29. Overall, ETHE has seen $1.72 billion in net outflows since launch. Data shows that BlackRock’s ETHA saw $58.2 million in inflows, helping its total amount of inflows since launch surpass the $500 million mark.
Additionally, Fidelity’s FETH, VanEck’s ETHV, and Bitwise’s ETHW also recorded double-digit inflows of $24.8 million, $10.9 million, and $10.4 million, respectively.
Grayscale’s lowest-fee ethereum ETF, ethereum Mini Trust (eth), and Franklin Templeton’s EZET saw inflows of $4.9 million and $2.5 million yesterday.
The different momentum in btc and eth spot ETFs comes as the global cryptocurrency market cap saw a 3.3% decline over the past 24 hours, according to data from CoinGecko.
bitcoin fell by 4% and is trading at $66,600 at the time of writing. ethereum experienced a 1.3% correction over the past day and is currently trading at around $3,340.
