YEREVAN (CoinChapter.com) — On Monday, U.S. spot Ethereum ETFs saw $5.0 million in net inflows. This shift followed three consecutive days of negative flows. The nine Ethereum ETFs in the U.S. market have shown varied results, with some funds experiencing inflows and others outflows.
VanEck’s ETHV ETF saw $2.9 million in net outflows, its first outflow since July 23. Meanwhile, other ETFs like Fidelity’s FETH and Bitwise’s ETHW reported inflows of $4.0 million and $2.9 million, respectively.
Grayscale’s ETHE Breaks 14-Day Outflow Streak
Grayscale’s ETHE ended its 14-day outflow streak with zero net flows on Monday. This change came after the fund’s recent conversion into a spot Ethereum ETF. ETHE’s performance on Monday stood out as a significant shift from its previous outflows.
Fidelity’s FETH ETF had $4.0 million in net inflows, while Bitwise’s ETHW ETF added $4.0 million. The total daily trading volume for spot Ethereum ETFs increased to $14.2 million on Monday, up from $10.9 million on Friday.
Bitcoin ETFs Lead with $27.8M Inflows Despite Mixed Fund Performance
U.S. spot Bitcoin ETFs outperformed Ethereum ETFs on Monday, recording $27.8 million in net inflows. Among these, Ark and 21Shares’ ARKB led with $35.4 million in net inflows. BlackRock’s IBIT also saw strong performance, with $13.4 million in inflows.
However, some Bitcoin ETFs, including Bitwise’s BITB and Grayscale’s GBTC, reported outflows of $17.1 million and $11.8 million, respectively.
Bitcoin and Ethereum Face Declines Amid Market Volatility
Bitcoin’s price fell by 1.65% over the past 24 hours, settling at $58,817.57. Meanwhile, the trading volume surged by 15.23% to reach $33.67 billion. The market cap stands at $1.16 trillion, with a circulating supply of 19.74 million BTC.
Ethereum’s performance showed a decline of 1.01%, trading at $2,641.25. The trading volume for Ethereum increased by 18.02% to $20.06 billion, with a market cap of $317.67 billion.
This price movement reflects the ongoing market volatility, with both Bitcoin and Ethereum experiencing declines, albeit with different magnitudes. The fluctuations in these major cryptocurrencies indicate shifting investor sentiments amid recent market developments.
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