Bitcoin ETFs See Modest Gains as Ether ETFs Extend Losses

After a challenging week marked by persistent outflows, bitcoin exchange-traded funds (ETFs) experienced a modest resurgence on Wednesday, March 12

Bitcoin exchange-traded funds (ETFs) recovered slightly on Wednesday, posting net inflows of $13.33 million after a week of outflows, while ether ETFs extended their outflows for a sixth day, with a total of $10.40 million pulled from the funds.

Four funds reported outflows and two registered inflows among the 12 U.S. spot bitcoin ETFs.

Ark 21Shares’ ARKB led the inflows, with a massive $82.60 million flowing into the fund. The fund, which tracks a basket of blockchain stocks and cryptocurrencies, has been a favorite among investors this year, and the large inflow suggests that investors are becoming more interested in funds that offer exposure to both equities and digital assets.

Grayscale’s BTC also saw positive movement, with an inflow of $5.51 million. The fund, which tracks the price of bitcoin, is one of the oldest and largest bitcoin ETFs on the market. It is also one of the most liquid, which may have contributed to the strong inflow.

On the other hand, Blackrock’s IBIT saw a significant withdrawal of $47.05 million. The fund, which is one of the largest and most diversified bitcoin ETFs, has been a popular choice for investors who are looking for a broad exposure to the bitcoin market. However, the strong outflows suggest that investors may be becoming more focused on specific sectors or investment styles.

Invesco’s BTCO and Grayscale’s GBTC weren’t spared either, with outflows of $12.41 million and $11.81 million, respectively. Wisdomtree’s BTCW also saw a modest outflow of $3.51 million.

These movements brought the total net assets for bitcoin ETFs to $92.45 billion, a slight rebound from previous lows but still indicative of a market in recovery.

In contrast, ether ETFs faced another challenging day, with outflows affecting several major funds. Fidelity’s FETH led the downturn, with investors pulling out $3.75 million. Grayscale’s ETH followed closely, experiencing a $3.54 million outflow. 21Shares’ CETH and Franklin’s EZET weren’t immune, recording outflows of $1.69 million and $1.43 million, respectively.

These continued outflows have reduced the total net assets for ether ETFs to $6.66 billion.