Spot Bitcoin (BTC) and Ethereum (ETH) ETFs traded in the US exhibited opposite movements on Wednesday.
Spot Bitcoin and Ethereum ETFs traded in the U.S. traded in opposite directions on Wednesday. As investors remain cautious following last week’s historic market crash, Bitcoin ETFs saw $104.1 million in outflows and Ethereum funds saw $169.6 million in inflows.
On the Bitcoin front, Grayscale’s GBTC fund saw the biggest outflow, recording a net outflow of $82.9 million. Invesco’s BTCO fund lost $11.1 million, and BlackRock’s IBIT fund lost $10.1 million. Other Bitcoin ETFs saw no movement.
In contrast, Ethereum ETFs saw strong inflows. BlackRock’s ETHA fund saw $164.3 million inflows, Bitwise’s ETHW fund $12.3 million, and Fidelity’s FETH fund $1 million. 21Shares’ CETH fund alone saw an outflow of $8 million.
In the last five days, Bitcoin ETFs had a total net outflow of $332.3 million, while Ethereum ETFs had a net outflow of $197.6 million.
The volatility in the markets began last Friday when former US President Donald Trump announced that 100% tariffs would be imposed on Chinese goods.
Following this development, Bitcoin briefly fell by 15% to the $100,000 level, while Ethereum fell by more than 20%.
Analysts note that the market is currently struggling to recover amidst weak liquidity. “This liquidity squeeze following forced sell-offs could lead to a recession in the short term,” said Vetle Lunde, Head of Research at K33 Research. “However, such periods often mark the beginning of long-term recoveries.”
