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bitcoin and ethereum exchange-traded funds in the United States have started the week moving in different directions as the broader cryptocurrency market faces consolidation.
According <a target="_blank" href="https://sosovalue.com/assets/etf/us-btc-spot” target=”_blank” rel=”nofollow”>data According to SoSoValue, the 12 spot bitcoin ETFs recorded $254.82 million in net inflows on Nov. 18, breaking a two-day outflow streak in which $770.77 million left the funds.
BlackRock IBIT led the pack with $89.33 million in inflows after a quiet day with no activity. Notably, the investment manager's IBIT fund, which holds $43.12 billion in net assets, has already surpassed its iShares Gold Trust, which holds $32.67 billion.
Fidelity's FBTC and Grayscale bitcoin Mini Trust contributed $59.95 million and $54.39 million to inflows, respectively, on Monday. Bitwise's BITB, ARK 21Shares' ARKB, VanEck's HODL, and Grayscale's GBTC funds also posted more modest inflows of $24.37 million, $13.22 million, $7.74 million, and $5.82 million. dollars, respectively.
The remaining five spot bitcoin ETFs remained neutral on the day.
ethereum ETFs hit 3-day outflow streak
Meanwhile, for <a target="_blank" href="https://sosovalue.com/assets/etf/us-eth-spot” target=”_blank” rel=”nofollow”>data From SoSoValue, ethereum spot ETFs recorded $39.08 million in net outflows yesterday, kicking off the second week of trading for these new investment products. Following Monday's outflows, ETFs have experienced a three-day outflow streak, with more than $102.19 million leaving the funds.
The majority of outflows on November 18 came from BlackRock's ETHA, which saw $23.91 million leave the fund. Grayscale's ETHE and ethereum Mini Trust also recorded outflows of $13.28 million and $5.06 million, respectively.
The only exception among ethereum ETFs was Fidelity's FETH, which reported inflows of $3.17 million that day, while the remaining five ETFs saw no activity.
The different momentum between bitcoin and ethereum spot ETFs comes as the global cryptocurrency market capitalization remained relatively stable, seeing just a 0.3% drop in the past 24 hours, according to data from CoinGecko.
Amid broader market consolidation, bitcoin (btc) rose 0.9%, trading at $91,533 at the time of writing. ethereum (eth) also saw a 0.7% increase over the past day and was valued at approximately $3,133.
