According to data from Farside Investors, US-based Spot Ethereum ETFs ended the week with $164.64 million in outflows. The outflows came from Fidelity’s FETH with $51 million, Bitwise’s ETHW with $23.7 million, Grayscale’s ETHE with $28.6 million, and Grayscale’s ETH with $61.3 million. BlackRock, on the other hand, witnessed neither inflows nor outflows into its Spot ETH ETFs, alongside 21Shares, VanEck, Invesco, and Franklin Templeton Ethereum ETFs.
Meanwhile, Spot Bitcoin ETFs also recorded their first daily decline since August 22 with $126.64 million in outflows on Friday. As a result, their total assets under management dropped to $139.95 billion.
However, not every issuer felt the pressure with Bitcoin. Fidelity’s FBTC led the exodus with $66.2 million, followed by ARKB’s $72.07 million and GBTC’s $15.3 million in outflows. On the other hand, BlackRock’s IBIT still managed $24.63 million in inflows and WisdomTree’s BTCW drew in $2.3 million amid the wider outflows.
On the price side of things, Bitcoin’s hold above the $108,000 price may offer some relief. However, it needs to stay above $110,000 in order for any upside move to gain momentum. At the time of writing, Bitcoin is trading at $109,910.
Featured image from Unsplash, chart from TradingView
