Bitcoin ETFs continue to see outflows while Ether ETFs rebound
Spot Bitcoin exchange-traded funds in the United States recorded their fourth consecutive day of outflows on Jan. 14, while Ethereum ETFs shifted to inflows.
According to data from SoSoValue, the 12 spot Bitcoin ETFs logged $209.82 million in net outflows on Tuesday, extending their outflow streak to four days, during which over $1.2 billion exited the funds.
The majority of outflows on the day came from BlackRock’s IBIT, which logged an outflow of $219.48 million, followed by Bitwise’s BITB, which saw an outflow of $8.93 million.
WidomTree’s BTCW managed to part of these outflows with an inflow of $10.24 million accompanied by help from VanEck’s HODL and ARK 21Shares’ ARKB which saw inflows of $5.46 million and $2.89 million respectively.
The remaining BTC ETFs remained neutral on the day.
The total trading volume for the 12 Bitcoin ETFs was $2.23 billion significantly lower than the $3.17 billion recorded the previous trading day.
Interestingly, this development comes despite Bitcoin (BTC) surging past $97,000 to reach a daily high of $97,705 on Jan. 15, amid a broader market rally that gained 1.3% over the day, bringing the total market capitalization to $3.53 trillion.
The surge followed a report from the Bureau of Labor Statistics on Tuesday, indicating cooler-than-expected inflation. The producer price index, which measures wholesale inflation, rose by only 0.2% in December, compared to the 0.4% increase projected by economists polled by Dow Jones.
At press time the BTC was still up 2.3% over the past day exchanging hands at $96,986 per coin.
Meanwhile, the nine Ether ETFs recorded an inflow day on Jan. 14, marking the end of a four-day streak of outflows that saw over $354 million exit the funds.
Notably, all of the inflows came from Bitwise’s ETHW which attracted $1.15 million from investors. None of the other ETH ETFs saw any trading activity on the day.
The cumulative total net inflow into these investment vehicles stood at $2.41 billion. At press time. Ethereum (ETH) was also up 2% trading at $3,228.
