Ether ETFs Break Four-Day Outflow Streak, Bitcoin ETFs Record $18M Outflows

Bitcoin ETFs broke the inflow trend, while ethereum ETFs recorded net inflows for the second time in their existence.

Investors are looking at the possibility of weak earnings from US tech companies as a signal of impending volatility in the BTC market.

U.S.-listed spot bitcoin {{BTC}} exchange-traded funds (ETFs) posted gains on Tuesday, while ether {{ETH}} ETFs posted gains after a four-day losing streak as the pair pared gains made following last week’s speech by Republican presidential candidate Donald Trump.

Spot Bitcoin ETFs recorded net outflows of $18 million, breaking a four-day streak of $124 million in inflows.

SoSoValue data shows Grayscale’s IBIT led the way with outflows of $73 million. Products from Fidelity, Ark Invest, Bitwise and VanEck saw outflows ranging from $2 million to $7 million. Blackrock’s IBIT was the only ETF to record inflows of around $75 million.

ETFs tracked by Eher recorded net inflows of $33 million, following a four-day losing streak, for only the second day since they launched on July 23.

(MultipleValues)

Ether ETFs witnessed cumulative net outflows of over $400 million. Grayscale’s ETHE recorded the highest losses at $1.84 billion, while BlackRock’s ETHA led the inflows at $618 million.

BTC surged above $69,000 last week after Trump took to the stage at the Bitcoin 2024 conference in Nashville to announce plans to fire U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler and create a strategic Bitcoin reserve if elected.

But the cryptocurrency fell as much as 5% on Monday after the U.S. Marshals Service transferred $2 billion worth of BTC to two new wallets, sparking fears of an impending liquidation.

Meanwhile, investors are warning of further price volatility as major U.S. tech companies are scheduled to release earnings reports this week, an event that is likely to weigh on Bitcoin prices.

“Election headlines will continue to be the main focus, but there are also several important macroeconomic events on the horizon,” Singapore-based QCP Capital said in a Telegram post on Tuesday. “Key events starting with the FOMC meeting on Wednesday, megacap tech earnings (Apple, Amazon, Meta) throughout the week and unemployment data on Friday.”

“We maintain a range-bound trading outlook for BTC,” the company said.

UPDATE (July 31, 08:10 UTC): Title changed to include latest ETH ETF inflow figures.

CORRECTION (July 31, 08:43 UTC): Corrects ether ETF inflows in headline, first paragraph. A previous version of this story said ETFs were experiencing their first net inflows.