The two exchange-traded funds (ETFs) for the two biggest crypto assets in the market ended Friday’s trading day on a deficit.
The 12-spot Bitcoin ETFs recorded a net outflow of $89.7 million while the 9-spot Ethereum ETFs witnessed $15.8 million leaving the funds.
For the Bitcoin ETFs, this outflow is coming after two days of consecutive inflow into the funds while the Ethereum ETFs are on their third day of consecutive outflow.
Bitcoin ETFs lose $89.7 million
According to Data from Farside Investors UK, the 12-spot Bitcoin ETFs ended Friday’s trading day with a deficit of $89.7 million.
Grayscale’s Bitcoin Mini trust led the inflow for the day with $15.6 million in net inflow followed by Blackrock’s IBIT which recorded $9.6 million in net inflows.
Huge outflows in other ETF products offset the paltry number of inflows.
Grayscale’s GBTC led the outflow with $77 million leaving the fund, followed by Fidelity’s FBTC which saw $19.8 million in net outflows while Bitwise BITB recorded a net outflow of $18.1 million.
According to Data from Soso, The Total value traded for the day was $1.27 billion.
Bitcoin Price Analysis
At the moment, Bitcoin is exchanging hands for $61.082 surging by 0.4% in the last 24 hours with a maximum price of $61,562 and a minimum price of $60,455.
The crypto asset is 17.2% down from its all-time high of $73,737.
Ethereum ETFs Shed $15.8 million
On the side of the spot Ethereum ETFs, the nine funds witnessed $15.8 million net outflow completing a third consecutive streak of outflow days for the Ethereum ETFs.
According to Data from Farside Investors UK, Blackrock’s ETHA led the inflows for the day with $19.6 million in net inflows followed by Fidelity’s FETH which recorded an inflow of $3.9 million. Grayscale’s Ethereum Mini Trust recorded the smallest inflow for the day with $2.4 million.
The inflows were offset by major outflows from Grayscale’s ETHE which saw $41.7 million leave the funds.
The other ETF products recorded zero activity for the day.
Ethereum Price Analysis
At the moment, Ethereum is exchanging hands for $2,677 surging by 1.8% in the last 24 hours with a maximum price of $2,707 and a minimum price of $2,197.
The crypto asset is 45.1% down from its all-time high of $4,878.
What to know
- The markets don’t trade during the weekends hence the report on Friday’s trading day which was the last day of trading for the week.
- Despite the outflows in their ETFs, Bitcoin and Ethereum both increased in Price value in the last 24 hours surging by 0.4% and 1.8% respectively.
