Spot Bitcoin and Ethereum exchange-traded funds traded in the US experienced a clear divergence, moving in different directions on July 16 (yesterday). Spot Bitcoin ETFs recorded net inflows for the third consecutive trading day, while spot Ethereum ETFs saw outflows following inflows the day before.
$79 million inflow into Bitcoin ETFs
US spot Bitcoin ETFs recorded total net inflows of $79.15 million on July 16, according to SoSoValue data.
| ETF group | Daily net flow | Total net assets | Cumulative net inflow | Market value share |
|---|---|---|---|---|
| Spot Bitcoin ETFs | $79.15 million entry | $77.72 billion | $51.22 billion | 6.04% |
| Spot Ether ETFs | $28.0413 million exit | $10.099 billion | $11.042 billion | 4.47% |
IBIT, managed by BlackRock, received the highest inflow of the day with $33.4438 million. The fund’s accumulated net inflows since its launch have reached $60.353 billion. $30.7255 million was transferred to Fidelity’s FBTC fund on the same day, and cumulative inflows amounted to $9.974 billion.
Total assets in spot Bitcoin ETFs rose to $77.72 billion, accounting for 6.04% of Bitcoin’s market cap.
$28 million out of Ether ETFs
Spot Ether ETFs recorded a total net outflow of $28.0413 million on July 16. ETHW, managed by Bitwise, was the only product that finished the day positively with an inflow of $2.2772 million. The total net inflows the fund has received since its establishment have increased to $384 million.
The highest daily outflow was seen in Grayscale Ethereum Mini Trust ETF. $14.2819 million was withdrawn from the fund traded with the code ETH in one day. On the other hand, the net inflows accumulated since the launch of the product remained at 1.8 billion dollars.
There was a divergence in corporate demand
Total net assets of Spot Ether ETFs were calculated at $10.099 billion. This amount corresponds to 4.47% of Ethereum’s total market value, while the historical cumulative net inflows of the funds reached $11.042 billion.
While the short-term correction and volatility in the digital asset market continued, capital inflows into Bitcoin funds continued. The fact that Ether funds recorded outflows on the same trading day showed that institutional demand for the two assets differed.
