Spot Bitcoin ETFs in the U.S. saw a notable influx of $39.02 million on Thursday, driven primarily by the Ark and 21Shares’ ARKB fund. This increase in investment coincides with Bitcoin’s steady climb toward the $58,000 mark.
According to SoSoValue data, the Ark and ARKB fund led the inflows with $18.34 million, followed by Fidelity’s FBTC, which attracted $11.47 million. Other funds, including Grayscale’s Bitcoin Mini Trust, VanEck’s HODL, and Franklin Templeton’s Bitcoin fund, also recorded positive inflows, contributing to the overall increase.
However, not all funds experienced growth. Grayscale’s GBTC was the only spot Bitcoin ETF to record outflows, with $6.51 million leaving the fund. Despite this, Bitcoin ETFs have collectively seen a cumulative net inflow of $17.03 billion since their inception in January 2024. Daily trading volume for these ETFs dropped to $896.92 million, down from $1.27 billion the previous day.
While Bitcoin ETFs enjoyed a surge in inflows, the situation was different for Ethereum. Spot Ethereum ETFs experienced net outflows of $20.14 million, marking the second consecutive day of declines. Grayscale’s ETHE fund was the primary contributor to these outflows, while other Ethereum ETFs saw no significant changes.
Total trading volume for Ethereum ETFs fell to $106.14 million, indicating reduced investor activity in this segment. Meanwhile, Bitcoin's price hovered around $58,000, with market participants closely watching the Federal Open Market Committee meeting for potential signals of a rate cut, which could influence market dynamics further.
Ethereum is underperforming against Bitcoin and competitors like Solana, with its ETH/BTC ratio hitting a three-year low. Despite this, Bitwise CIO Matt Hougan views Ethereum's dominance in DeFi and stablecoins as a strong long-term investment opportunity, anticipating potential gains if regulatory clarity improves.
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