Bitcoin ETFs Shed $277M, Ethereum ETFs Show Mixed Signals!

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Starting the week on a slightly bearish note, the Bitcoin price dropped 2.81% on Sunday and is currently trading at $57,557. The Bitcoin ETF market puts a bearish gear down amid such market conditions. 

Last week, between 26th and 30th August, the Bitcoin ETF slid down with a net outflow of $277 million in total. Most outflows came from ARK Invest and 21Shares’ ETF ARKB with massive $220 million withdrawals. Similarly, Grayscale’s GBTC had a spike in outflows worth $119 million. 

However, the Ethereum spot exchange-traded funds were slightly less bearish and surprisingly in recovery mode. The total outflow was just $12.6 million over the same period. The Grayscale’s Ethereum ETHE had an outflow of $27.86 million. Meanwhile, BlackRock’s ETHA and Grayscale’s Mini Ethereum Trust also witnessed a spike in inflows worth $8.4 million and $3.57 million, respectively.