ETH and BTC ETFs Experience $291 Million in Outflows This Week

In August, US-based crypto ETFs saw a shift towards Ethereum, but last week's inflow trend reversed with significant outflows on Friday. Key points include:

  • Ethereum ETFs experienced $164.64 million in outflows, while Bitcoin ETFs had $126.64 million.
  • Top contributors to Ethereum's outflows were Fidelity's FETH ($51 million), Bitwise's ETHW ($23.7 million), Grayscale's ETHE ($28.6 million), and Grayscale's ETH ($61.3 million).
  • Total assets for Spot Ethereum ETFs decreased to $28.58 billion after a six-day inflow streak of approximately $1.876 billion.
  • Bitcoin ETFs also reported their first decline since August 22, dropping total assets to $139.95 billion.
  • Key outflows from Bitcoin included Fidelity's FBTC ($66.2 million) and ARKB's ($72.07 million), while BlackRock’s IBIT and WisdomTree’s BTCW recorded inflows of $24.63 million and $2.3 million, respectively.
  • Outflows correlate with recent inflation data showing a 2.9% year-over-year increase in the US core PCE index, raising concerns about potential Federal Reserve rate cuts.

Looking ahead, ETF flows may depend on investors' reactions to inflation data. Continued pressure could lead to further retreats, while favorable signs may prompt mid-week inflows into Ethereum. Current prices show Bitcoin at $109,910 and Ethereum at $4,470.