Bitcoin ETFs in the United States posted net inflows of $39.02 million on Thursday after a period of outflows. ARKB, led by Ark and 21Shares, was the largest contributor to this inflow. Ethereum ETFs experienced net outflows for the second day in a row as Grayscale lost $20.14 million while 21Shares added Anchorage Digital Bank and BitGo as ETF custodians, and Grayscale launched its XRP Trust and plans to transform to XRPETF. .
Bitcoin ETFs attract millions
Spot Bitcoin Exchange Traded Funds (ETFs) in the US experienced a very welcome turnaround on Thursday. The ETF saw net inflows of $39.02 million after the previous day’s outflows and consecutive days of outflows several weeks ago.
Ark and ARKB 21Shares led the way with inflows of $18.34 million, according to SoSoValue. Fidelity’s FBTC also saw inflows of $11.47 million, followed by Grayscale’s Bitcoin Mini Trust, which generated $5.18 million. BITB Bitwise added $2.22 million to its assets.
Bitcoin ETF Flow (Source: Farside Investors)
On the other hand, Grayscale’s flagship GBTC fund was the only Bitcoin ETF to lose $6.51 million, among the Bitcoin ETFs with zero inflows on Thursday was BlackRock’s IBIT, the largest Bitcoin ETF by net assets. After August 27, there was no net inflow of funds.
The 12 Bitcoin ETFs had a combined lower daily trading volume of $896.92 million, down from $1.27 billion on Wednesday. These ETFs have now accumulated $17.03 billion in net inflows since their launch in January.
Meanwhile, US spot Ethereum ETFs continued their net outflows on Thursday, posting their second straight loss. Grayscale’s ETHE fund accounted for $20.14 million in outflows, while the other eight Ethereum ETFs showed no movement.
Total Ethereum ETF trading volume reached $106.14 million on Thursday, up from $126.22 million the previous day. Cumulative net outflows from the Ethereum ETF now stand at $582.9 million.
Ethereum ETF Stream (Source: Farside Investors)
In the broader cryptocurrency market, BTC is currently worth around $58,032.69 after falling to $53,000 last Friday due to weak non-farm payrolls data. The cryptocurrency king was able to recover from current levels after the recent election debate between Kamala Harris and Donald Trump and the release of consumer price data.