Essential Insights
- U.S. spot Bitcoin ETFs currently control $92.45 billion in BTC, representing 5.61% of its total market capitalization.
- As of today, Bitcoin is up by 1.4%, trading at $83,330, although it has decreased nearly 15% over the last 30 days.
- U.S. spot Ethereum ETFs hold a total of $7.92 billion in net assets, which is about 2.99% of ETH’s market cap.
- Ethereum is trading at $1,891 and has seen a decline of 29.83% in the past 30 days.
Recent months have seen significant withdrawals from U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) as investors became cautious amid a substantial market correction.
With indications of market stabilization, there is renewed interest in Bitcoin ETFs—at least for the time being. In contrast, Ethereum funds have continued to experience consistent outflows.
Bitcoin ETFs Overview
Bitcoin ETFs are beginning to recover after a lengthy period of outflows, registering $13.33 million in net inflows on March 12, as reported by SoSoValue.
Nevertheless, the recent market exits have exceeded $1.5 billion since March 3, leading to a net loss of $727.09 million for the week.
This marks the fifth consecutive week of outflows, totaling $5.09 billion, suggesting that U.S. spot BTC ETFs may be facing their first-ever two-month net outflow streak.
ARK 21Shares Bitcoin ETF (ARKB) led in net inflows with $82.6 million, increasing its cumulative total to $2.55 billion. It ranks third in total inflows and fourth in net assets with $3.89 billion.
The Grayscale Bitcoin Mini Trust followed, garnering $5.51 million in inflows, which brings its cumulative inflows to $1.09 billion and net assets to $3.34 billion, ranking it fifth.
BlackRock’s iShares Bitcoin Trust (IBIT) saw the largest outflows, totaling $47.05 million. Despite these outflows, IBIT maintains its position as the leading fund, with $39.39 billion in total net inflows and $47.02 billion in assets.
The Invesco Galaxy Bitcoin ETF (BTCO) recorded a loss of $12.41 million in inflows, leading to a total of $115.37 million and net assets of $455.15 million, ranking tenth and ninth, respectively.
The Grayscale Bitcoin Trust (GBTC) experienced outflows of $11.81 million, making it the least effective performer, with cumulative net outflows of $22.49 billion and net assets of $16.09 billion.
WisdomTree Bitcoin Trust (BTCW) saw a loss of $3.51 million, with cumulative inflows at $118.69 million and net assets reaching $209.38 million, ranking ninth and eleventh, respectively.
Ethereum ETFs Overview
Ethereum ETFs have extended their outflow streak to six consecutive days, reporting net outflows of $10.4 million on March 12, according to SoSoValue . Funds are now headed for a third straight week of outflows, amounting to $524.68 million thus far.
ETH has faced difficulties since Bitcoin briefly dipped below $80,000 on February 28, declining 29.6% over the last 30 days, while BTC is down 15.21%.
While Bitcoin ETF flows have turned positive, indicating that investors are seizing opportunities during the downturn, the underperformance of ETH, trading below $1,900, may present either a chance or a risk for ETF investors.
Fidelity’s Ethereum Fund (FETH) reported the largest outflow of the day, amounting to $3.75 million. Nonetheless, it remains the second-best performing ETH ETF, with $1.43 billion in cumulative inflows and $778.92 million in net assets, ranking fourth.
Following closely was the Grayscale Ethereum Trust, which experienced outflows of $3.54 million, bringing its cumulative inflows to $606.26 million and net assets to $891.79 million, making it the third highest among ETH funds.
The 21Shares Core Ethereum ETF (CETH) saw a drop of $1.69 million, with cumulative inflows totaling $11.37 million and net assets of $8.44 million, placing eighth and ninth, respectively.
The Franklin Ethereum Trust (EZET) registered $1.43 million in outflows, trailing with cumulative inflows of $36.22 million and net assets of $22.09 million.
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