US spot bitcoin ETFs end eight-day inflow streak with $127 million in net outflows yesterday

Spot bitcoin exchange-traded funds in the U.S. returned to net outflows on Tuesday, ending the eight-day streak of positive flows based on data from SoSoValue. The U.S. spot bitcoin ETFs had drawn in $756 million during the eight-day run.

The U.S. spot bitcoin funds saw $127 million net outflows, while Valkyrie’s BRRR has not been updated. The net outflows were led by Ark & 21Shares’ ARKB, which reported negative flows of  $101.97 million, SoSoValue data showed.

Grayscale’s GBTC saw net outflows of $18.32 million, along with $6.76 million from Bitwise’s BITB. Eight funds, including BlackRock’s IBIT, saw zero flows on Tuesday. 

The U.S. spot bitcoin funds, excluding BRRR, saw a total trade volume of $1.2 billion. Since January, they have accumulated $17.95 billion worth of net inflows.

Ether ETFs see ninth outflow day

Meanwhile, spot ether ETFs continued to their ninth consecutive day of net outflows, reporting $3.45 million in negative flows yesterday.

Grayscale’s ether fund recorded a daily net outflow of $9.18 million, countered by $3.88 million net inflows into Fidelity’s FETH and $1.86 million into Bitwise’s ETHW. 

Spot ether funds saw $129.95million in trading volume on Monday, remaining in a level significantly lower than late July’s volumes of around $900 million. The funds have accumulated total net outflows of $481.32 million.

Bitcoin traded down 5.75% over the past 24 hours to $59,514, while ether slid 8.02% to change hands at $2,481 at the time of writing, according to The Block's price page.