Bitcoin ETFs continue to see outflows while Ether ETFs rebound

Spot Bitcoin exchange-traded funds in the US recorded outflows for the fourth consecutive day on January 14, while Ethereum ETFs headed for inflows.

According to data from SoSoValue, 12 spot Bitcoin ETFs recorded net outflows of $209.82 million on Tuesday, extending their outflow streak to four days, with more than $1.2 billion outflowing from the funds during that period.

The bulk of the day’s outflows came from BlackRock’s IBIT with an outflow of $219.48 million, followed by Bitwise’s BITB with an outflow of $8.93 million.

WidomTree’s BTCW managed some of those outflows with an inflow of $10.24 million, aided by 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 throughout the day.

The total trading volume of the 12 Bitcoin ETFs was significantly $2.23 billion lower than the $3.17 billion recorded on the previous trading day.

Interestingly, this development comes despite a broader market rally that saw Bitcoin (BTC) surpass $97,000 on January 15, reaching a daily high of $97,705 and rising 1.3% on the day, bringing the total market capitalization to $3.53 trillion. happened.

The increase follows a report from the Bureau of Labor Statistics on Tuesday that pointed to cooler-than-expected inflation. The producer price index, which measures wholesale inflation, rose just 0.2% in December, compared with the 0.4% increase predicted by economists surveyed by Dow Jones.

At the time of writing, BTC had changed hands at $96,986 per token, up 2.3% the previous day.

Meanwhile, nine Ether ETFs recorded an inflow day on January 14, marking the end of a four-day outflow streak that led to over $354 million outflow from 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 instruments amounted to 2.41 billion dollars. At press time. Ethereum (ETH) was also up 2% at $3,228.