Bitcoin ETFs are losing fortunes again, but Ethereum ETFs are growing

The crypto market is still reeling from the aftermath of Monday’s Iranian missile attack on Israel. Fear dominates, which is clearly visible in the disappointing price results of many cryptocurrencies. This sentiment has also hit US Bitcoin (BTC) spot exchange-traded funds (ETFs), which lost tens of million dollars yesterday.

Despite this negative trend, the Ethereum (ETH) funds have managed to distinguish themselves. They managed to end the day in green.

BTC funds lose almost $300 million in 2 days

Bitcoin funds launched in January experienced a combined net outflow of $52.9 million yesterday, data from Farside Investors shows. A day earlier, the funds saw their biggest outflows in weeks of $242.6 million. This means a total loss of almost $300 million in two days.

Fidelity’s was remarkably the only one that managed to raise new capital yesterday. His FBTC fund ended the day with $21.1 million in additional capital.

BlackRock posted its fourth negative result since launch, with outflows of $13.7 million. The joint ARKB fund of ARK Invest and 21Shares was the biggest loser with an outflow of $60.3 million.

It’s the third day in a row that Grayscale’s GBTC fund, which has already lost more than $20 billion since launch, is not at the bottom. Yesterday, no significant difference between the inflow and outflow was noted.

The Bitcoin price has been stuck between $60,000 and $62,000 since Monday evening. Both bulls and bears are unable to force a breakthrough. Bitcoin has also moved in the other direction over the past day at both $60,000 and $62,000. At the time of writing, the coin is selling for $61,400.

ETH funds turn green

The Ethererum price, on the other hand, has lost almost 4% of its value in the past day. Nevertheless, US Ethereum ETFs managed to raise $19.8 million yesterday, according to Farside Investors. It is the first positive result of the week: on Monday, $0.8 million flowed out of the funds, followed by a loss of $48.6 million on Tuesday.

BlackRock secured $18 million for its ETHA fund and Franklin Templeton welcomed $1.8 million.