Spot Bitcoin ETFs Suffer Losses of $105.19 Million
USA-based entities providing the bitcoin spot etfs lost a little less than $105.19 million from the market on August 28, 2021, as proved by their two days of net cash outflows. The ARK 21Shares ARKB gave the green light to buying the funds for the second time thanks to the outflows of $59.3 million. The event was preceded by a day when even the flow was as much as $102 million as percentile showed to the side.
Leading Teams Influenced
Other important ETFs were also among the main victims of lifeblood detachment. Fidelity’s FBTC lost about 10.4 million US dollars, while VanEck’s HODL had an outflow of 10.1 million US dollars. On top of that, sic Bitwise’s BITB and Grayscale’s Bitcoin Mini Trust have both waited for $8.7 million and $8.8 million to flow back into their funds, respectively.
Grayscale’s GBTC, a once-in-the-time leader in the Bitcoin ETF arena, saw a not so large $8 million outflow this time, its lowest one since mid-July. Nevertheless, the fund’s cumulative outflows have gone up to a jaw-dropping $19.75 billion. It’s worth mentioning that more than 60% of Grayscale’s Bitcoin reserves were cut down upon ETF.
BlackRock’s IBIT Remains on Top of the Game
Conversely, the fortunes of the Grayscale did not get any better, meanwhile, BlackRock’s IBIT has grown considerably and positioned itself as the leader of the reviews in just 5 months of the launch. The ETF is now crowded with a large number to the value of 357736 BTC, i.e., approx. $22.2 B.
The six remaining Bitcoin ETFs on the market finally managed to stay at a point of zero change as there were no cash inflows for the second straight day, indicating the calmness of investor sentiments.
Spot Ethereum ETFs Break Nine-Day Outflow Streak
However, there was a brighter change in the Ether ETF sector. Following nine consecutive days of outflows, the combined spot trading quantities of Ethereum ETFs conversely depict $5.84 million in inflows as of August 28.
Key Funds See Inflows
ETHA with BlackRock and FETH with Fidelity emerged as the top performers showing inflows worth $8.4 million and $1.3 million, respectively, for the period. However, the gains recorded were counteracted to some extent by ETHE, the cryptocurrency trust of Grayscale, which experienced outflows amounting to $3.8 million. This event culminated in a total outflow of $2.55 billion since launch.
These Ethereum ETFs also exhibited an increase in their trading volumes, with daily trading activity amounting to $151.5 million, which was a growth from the previous day results. Yet the overall net outflows for these ETFs were still high, coming to $475.48 million currently.
At the time of this writing, the Ether price had moved in a positive direction, claiming 3.5% growth and transacting at $2,544. The Bitcoin price, meanwhile, registered minimal growth with 0.3% and was quoted at $59,640.
