A notable divergence in investor activity was observed across the spot Bitcoin and Ethereum exchange-traded funds (ETFs) listed in the United States on May 13, 2024. While the Bitcoin segment registered a net capital withdrawal, its Ethereum counterpart experienced positive inflows, indicating differing sentiment or strategic shifts among market participants on that specific day, according to data compiled by SoSoValue.
Bitcoin ETF Performance
On May 13, spot Bitcoin ETFs recorded a net capital outflow totaling $96.14 million. This marked the second trading session within the month that these funds have seen more money leave than enter. Analysis of the individual funds reveals that Fidelity’s FBTC was significantly impacted, with investors pulling out $91.39 million. Hashdex’s DEFI fund also saw modest outflows, amounting to $4.75 million. A majority of the other Bitcoin spot ETFs tracked reportedly saw no significant capital movement during this period.
Ethereum ETF Trends
In contrast to the Bitcoin market, the spot Ethereum ETF sector attracted fresh investments on the same day. These funds collectively received $13.37 million in net inflows. This positive movement represents the fourth trading day in May that Ethereum spot ETFs have posted net capital gains. The inflows were concentrated across three specific funds: the ETH fund saw the largest single inflow of $7.36 million, EZET received $3.06 million, and ETHV added $2.95 million. The remaining six Ethereum ETFs monitored experienced neutral capital flow.
Comparing Daily Flows
The activity on May 13 stands in stark contrast to the preceding day, May 12. On that date, spot Bitcoin ETFs had actually attracted a net inflow of $5.10 million, while Ethereum ETFs had faced a net outflow of $17.59 million. This swift reversal in fortunes between the two leading cryptocurrency asset classes highlights the volatile and dynamic nature of capital flows within these nascent ETF markets.
Chris brings over six years of hands-on experience in cryptocurrency, bitcoin, business, and finance journalism. He’s known for clear, accurate reporting and insightful analysis that helps readers stay informed in fast-moving markets. When he’s off the clock, Chris enjoys researching emerging blockchain projects and mentoring new writers.