Spot bitcoin ETFs see $81 million exit, ending two-day positive flow streak
Quick Take
- U.S. spot bitcoin ETFs recorded $81.36 million in net outflows on Wednesday, while spot ether ETFs saw $10.77 million flow into the funds.
- BlackRock’s IBIT recorded moderate inflows of $2.68 million, compared to $34.55 million in inflows the previous day.
U.S. spot bitcoin exchange-traded funds saw $81.36 million leave the products on Wednesday, ending their two-day positive flow streak.
BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, recorded $2.68 million in net inflows, according to data from SosoValue. Franklin’s EZBC saw inflows of $3.42 million, marking its first net inflows since July 22. They were the only two funds to report inflows on Wednesday.
Grayscale’s GBTC reported the largest outflows among the funds, with $56.87 million in net outflows. That was followed by Fidelity’s FBTC with $18.05 million, Ark and 21Shares’ ARKB with $6.77 million, and Bitwise’s BITB with $5.78 million in net outflows.
The six other spot bitcoin ETFs recorded zero flows on the day.
The total daily trading volume of all the spot bitcoin funds reached $1.3 billion on Wednesday, compared to $1.18 billion on Tuesday.
Spot ether ETFs continued positive flows
Meanwhile, the nine spot Ethereum ETFs recorded $10.77 million in net inflows on Wednesday, extending their positive flow streak to a third consecutive day, according to SosoValue data.
The Grayscale Ethereum Trust (ETHE) continued to experience outflows, with $16.95 million exiting the product. It was the only spot ether ETF to post outflows.
The Grayscale Ethereum Mini Trust (ETH), the second-largest spot ether ETF by net assets, saw moderate inflows of $2.26 million after reporting zero flows for two consecutive days.
BlackRock’s ETHA saw the largest inflows among the ETFs, with $16.13 million. Fidelity’s FETH logged inflows of $6.65 million, and Bitwise’s ETHW experienced $2.67 million in net inflows.
On Wednesday, the total trading volume of the nine ETFs amounted to $155.91 million, much lower than $190.76 million on Tuesday and $285.96 million on Monday.
Bitcoin traded down 4.33% over the past 24 hours at $58,323 at the time of writing, according to The Block’s price page. Ether slid 3.19% to change hands at $2,642.
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