The crypto community is actively demanding and filing for newer ETFs following the success of Bitcoin & Ethereum ETFs. Notably, institutions have already filed for XRP ETF and Solana ETF. Moreover, speculations of Avalanche ETF, Chainlink ETF, and many others are constantly growing in the crypto space.
However, over the past few weeks, the ETF market has witnessed a remarkable drop in its trading volume. This has now raised concerns about the short-term and long-term prospects and sustainability of this model, as it could act as a catalyst both negatively and positively during uncertain market conditions.
While the daily histogram shows positive bars over the last few days, the overall ETF has sustained a significant loss over the past 12 weeks. Reportedly, since its inception, Bitcoin ETF has recorded a total flow of $81,039 million with a net flow of +$35,475 million.
On the other hand, Ethereum ETF has recorded a total flow of $10,751 million with a net flow of +$2,262.2 million.
As of today, the Assets Under Management (AUM) stands at +$106.14 billion. When bifurcated, Bitcoin has a contribution of +97.91 billion, whereas Ethereum has a contribution of only +8.23 billion.
Considering the present market statistics, investors are curious and concerned about the role of ETFs in the future. Will crypto ETFs make a strong bullish recovery despite the ongoing market uncertainty? Let us now explore the weekly performance of Bitcoin & Ethereum ETFs.
Bitcoin ETF Continues To Stumble!
Bitcoin price today is valued at $84,846 with an intraday trading volume of $14.96 billion, a change of +0.33%. Moreover, with a market cap of $1.68 trillion, it has a market share of 62.93%.
During the 16th week of the year, Bitcoin, the largest Exchange Traded Fund (ETF), witnessed 3 out of 5 positive trading days. While it experienced one neutral trading day and only one negative outflow day was recorded. Notably, the inflow streak was led by BlackRock’s “IBIT” with a total flow of +$186.5 million, followed by Bitwise’s “BITB” with $23.8 million.
Reportedly, 7 out of 11 ETFs recorded a neutral flow or a positive inflow of less than $15 million throughout the week. On the other hand, the outflow momentum was led by Fidelity’s “FBTC” with $123.1 million, followed by Ark’s “ARKB” with $99.8 million.
With this, the weekly flow of Bitcoin ETF concluded at +13.7 million. Compared with the previous week of -$707.9 million, this shows a positive rise.
Ethereum ETF Records 7 Consecutive Days Of Outflow!
Ethereum price today is valued at $1,613 with an intraday trading volume of $6.661 billion, a change of -16.49%. Notably, with a market cap of $194.78 billion, it has a market share of 7.21%.
The Ether ETF once again concluded the week on a bearish note, highlighting increased selling pressure for the second-largest crypto ETF in the market. Notably, Grayscale’s “ETH” has recorded a positive flow only once on 16th, worth $2.2 million, followed by 21 Shares on 14th April worth $1.8 million.
Apart from this, all ETFs have either recorded a neutral flow or a negative flow for the rest of the period. Reportedly, the outflow run was led by Grayscale’s “ETHE” with $18.8 million, followed by Fidelity’s “FETH” with $11.4 million. Among other weekly losers were BlackRock’s “ETHA” with $4.3 million and Franklin’s “EZET” with $1.8 million.
By evaluating this, the weekly flow of Ethereum ETF concluded with a net flow of -$32.3 million.
Also Read: Investors Pull $326 Million from Bitcoin ETFs – Here’s Why
