Spot Bitcoin and Ethereum exchange-traded funds in the United States have started the week moving in different directions as the broader cryptocurrency market faces consolidation.
According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $254.82 million in net inflows on Nov. 18, breaking out of a two-day streak of outflows that saw $770.77 million leave the funds.
BlackRock’s IBIT led the group with $89.33 million in inflows, following a quiet day with no activity. Notably, the investment manager’s IBIT fund, which holds $43.12 billion in net assets, has already surpassed its iShares Gold Trust, which holds $32.67 billion.
Fidelity’s FBTC and Grayscale Bitcoin Mini Trust contributed to the inflows with $59.95 million and $54.39 million, respectively, on Monday. Bitwise’s BITB, ARK 21Shares’ ARKB, VanEck’s HODL, and Grayscale’s GBTC funds also recorded more modest inflows of $24.37 million, $13.22 million, $7.74 million, and $5.82 million, respectively.
The remaining five spot Bitcoin ETFs remained neutral for the day.
Ethereum ETFs hit 3-day outflow streak
Meanwhile, per data from SoSoValue, spot Ethereum ETFs registered $39.08 million in net outflows yesterday, kicking off the second trading week for these new investment products. Following Monday’s outflows, the ETFs have experienced a three-day outflow streak, with over $102.19 million exiting the funds.
The majority of the outflows on Nov. 18 came from BlackRock’s ETHA, which saw $23.91 million exit the fund. Grayscale’s ETHE and Ethereum Mini Trust also recorded outflows of $13.28 million and $5.06 million, respectively.
The only exception among Ethereum ETFs was Fidelity’s FETH, which reported inflows of $3.17 million on the day, while the remaining five ETFs saw no activity.
The differing momentum between spot Bitcoin and Ethereum ETFs comes as the global cryptocurrency market capitalization remained relatively stable, experiencing only a 0.3% drop over the past 24 hours, according to data from CoinGecko.
Amidst the broader market consolidation, Bitcoin (BTC) rose by 0.9%, trading at $91,533 at the time of writing. Ethereum (ETH) also witnessed a 0.7% rise over the past day and was valued at approximately $3,133.
