Reported by The Block: Spot bitcoin ETFs in the U.S. saw $50.64 million in net inflows on Thursday, led by Grayscale’s Bitcoin Mini Trust which only began trading on Wednesday.
Spot ether ETFs recorded $26.75 million in net inflows, while funds showed declining trade volume.
The 12 spot bitcoin exchange-traded funds in the U.S. reported a total daily net inflow of $50.64 million on Thursday, while spot ether ETFs saw a return to net inflows with $26.75 million.
Grayscale’s Bitcoin Mini Trust, which only began trading on Wednesday, led net inflows yesterday with $191.13 million, according to data from SoSoValue. This was followed by BlackRock’s IBIT, which saw inflows of $25.9 million.
The inflows were countered by net outflows from five U.S. funds, including Grayscale’s GBTC, which saw $71.33 million leave the fund on Thursday. Fidelity’s FBTC logged net outflows of $48.4 million and Ark Invest and 21Shares’ ARKB saw $22.42 million in outflows. Funds from Bitwise and VanEck also saw net outflows, while the remaining five funds from issuers such as Valkyrie reported zero flows yesterday.
The total daily trading volume for the 12 bitcoin ETFs amounted to around $2.91 billion on Thursday, compared to $1.37 billion on Wednesday. The spot bitcoin products have accumulated a total net inflow of $17.74 billion since January.
The two largest spot bitcoin ETFs — BlackRock’s IBIT and Grayscale’s GBTC — both traded down about 3% on Thursday, according to The Block’s Bitcoin ETF Tracker.
Inflows were led by BlackRock’s ETHA, which saw a positive flow of $89.65 million. Fidelity’s ether fund recorded $11.7 million in net inflows, while Bitwise’s ETHW saw $3.35 million.
Grayscale’s ETHE offset a major chunk of inflows with a daily net outflow of $77.95 million on Thursday, SoSoValue data showed.
The Ethereum funds saw a total trading volume of $331.11 million on Thursday, which shows a decline in trading volume since their debut on July 23, when about $1.11 billion was traded.