Overview of Bitcoin and Ether ETFs
In the U.S., spot Bitcoin exchange-traded funds saw a significant increase in net positive flows while spot Ether ETFs experienced a slowdown in outflows. Data from SoSoValue revealed that spot Bitcoin ETFs reported outflows of $211.15 million on Sep. 5, marking a significant surge compared to the previous day. Fidelity’s FBTC led the trend with $149.5 million leaving the fund, followed by other leading ETFs such as Biwise’s BITB and Grayscale’s GBTC.
Bitcoin Market Trends and Trading Volume
Despite the inflows in some Bitcoin ETFs, the overall market sentiment for Bitcoin witnessed a decline, with the crypto fear and greed index hitting an extreme fear zone of 22. This fear was fueled by concerns of a potential U.S. recession. Institutional demand for Bitcoin also weakened, as spot Bitcoin ETFs saw outflows for seven consecutive trading days, shedding over $1 billion. The total daily trading volume for spot Bitcoin ETFs decreased to $1.35 billion on Sep. 5.
Ether ETFs Performance and Market Outlook
On the other hand, spot Ether ETFs displayed bearish trends with smaller net outflows compared to the previous day. Grayscale’s ETHE recorded significant outflows, while the Grayscale Ethereum Mini Trust managed to balance this with inflows. The total trading volume for Ether ETFs also experienced a decline on Sep. 5. Ethereum’s fear and greed index fell to the fear zone of 34, indicating growing uncertainty among investors.
