Spot Bitcoin and Ethereum exchange-traded funds in the United States have started the week in different directions as the broader cryptocurrency market faces corrections.

Bitcoin ETFs Show Mixed Results

According to data provided by Farside Investors, spot Bitcoin ETFs recorded $124.1 million in net inflows at the end of the trading day on Monday, July 29. BlackRock’s iShares Bitcoin Trust (IBIT) was the main contributor, with $205.6 million in inflows.

However, not all Bitcoin ETFs had positive performance. The Grayscale Bitcoin Trust (GBTC) experienced $54.3 million in outflows. Similarly, the Bitwise Bitcoin ETF (BITB) and Fidelity Wise Origin Bitcoin Fund (FBTC) saw outflows of $21.3 million and $5.9 million, respectively. Other spot BTC ETFs remained neutral.

Ethereum ETFs Start the Week with Net Outflows

Spot Ethereum ETFs registered $98.3 million in net outflows yesterday, marking the start of the second trading week for these new investment products.

Grayscale Ethereum Trust (ETHE) was the only ETH ETF with significant outflows, losing $210 million on July 29. ETHE has seen $1.72 billion in net outflows since its launch.

On a more positive note, BlackRock’s ETHA saw $58.2 million in inflows, pushing its total inflows since launch past the $500 million mark. Fidelity’s FETH, VanEck’s ETHV, and Bitwise’s ETHW also recorded double-digit inflows of $24.8 million, $10.9 million, and $10.4 million, respectively. Grayscale’s lower-fee Ethereum ETF, Ethereum Mini Trust (ETH), and Franklin Templeton’s EZET recorded $4.9 million and $2.5 million in inflows yesterday.

Market Overview

The different momentum in spot BTC and ETH ETFs comes as the global cryptocurrency market capitalization saw a 3.3% decline over the past 24 hours. Bitcoin dropped by 4% and is trading at $66,600 at the time of writing. Ethereum witnessed a 1.3% correction over the past day and is currently changing hands around $3,340.

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