Bitcoin ETF sees scant inflows, Ethereum ETF sees outflow

US Bitcoin ETFs recorded a modest inflow of just under $5 million on 11 August. Notably, nearly all of the inflow came from a single provider: BlackRock. Ethereum ETFs moved in the opposite direction, with a net outflow of nearly $1.8 million.

Bitcoin is available at OKX and Bybit.

In brief:

• Bitcoin spot ETFs received a net $4.9 million on 11 August, with only BlackRock’s IBIT attracting funds
• Ethereum spot ETFs, on the other hand, saw funds flow out: Fidelity’s FETH accounted for the bulk of the $1.8 million outflow
• Bitcoin is trading around $64K, down 0.5% over the past 24 hours

Only BlackRock Attracts Funds to Bitcoin ETFs

According to SoSoValue data, net inflows into US Bitcoin spot ETFs on 11 August totalled $4.89 million. That sounds positive, but the overall picture is more nuanced: only BlackRock’s IBIT recorded a positive balance on that day. All other providers either stayed at zero or saw funds leave.

The total assets held in these ETFs stand at $77.46 billion. Earlier this week, $145 million flowed out of Bitcoin ETFs, putting the current modest recovery into perspective. The Bitcoin price stands at $64K at the time of writing, down 0.5% from a day earlier.

Fidelity Drives Largest Ethereum ETF Outflow

The picture for Ethereum spot ETFs is more negative. On 11 August, a net $1.76 million left these funds. Fidelity’s FETH was the biggest contributor, with $2.33 million in outflows. That more than offsets any inflows other Ethereum ETFs may have received.

The Ethereum market has been grappling with mixed signals for some time. Previously, on-chain indicators pointed to a possible bottom, but ETF flows have yet to show a clear recovery. Two other Ethereum metrics also recently dropped below zero simultaneously, increasing uncertainty around the price. The persistent outflow at Fidelity suggests institutional investors remain cautious about Ethereum for now.