Bitcoin and Ethereum ETFs Post Positive Inflows

The U.S. market saw a notable uptick in cryptocurrency exchange-traded funds (ETFs) on Monday, as Bitcoin ETFs recorded an inflow of $27.8 million, while Ethereum ETFs attracted $5 million. This marks a positive turn after several days of outflows.

A key development was Grayscale’s Ethereum Trust (ETHE) ending a 14-day streak of outflows. The ETHE, which recently converted to a spot Ethereum ETF, had been under pressure but finished Monday with no net outflows.

In Bitcoin ETFs, Ark and 21Shares’ ARKB led the gains with $35.4 million in inflows, followed by Blackrock’s IBIT, which saw $13.4 million, and Grayscale’s BTC with $7.9 million. Conversely, Bitwise’s BITB recorded the largest outflow, losing $17.1 million, and Grayscale’s GBTC saw $11.8 million in outflows.

On the Ethereum side, Fidelity’s FETH led the inflows with $4 million, followed by Bitwise’s ETHW at $2.9 million. VanEck’s ETHV was the only fund to experience an outflow, losing $2.9 million.

Market Analysis

Bitcoin is currently trading at $58,698, a slight 0.2% decrease in the last 24 hours, but it remains up 6.3% over the past week. Ethereum is trading at $2,631, down 0.5% in the past 24 hours but up 6.9% over the past week.

Both Bitcoin and Ethereum have shown resilience following last week’s market crash, largely due to activity in their respective ETFs.