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Negative Series Continues in Both Bitcoin ETFs and Ethereum ETFs! How Much Outflow Has Happened? Here Are the Details

Negative Series Continues in Both Bitcoin ETFs and Ethereum ETFs! How Much Outflow Has Happened? Here Are the Details

BitcoinsistemiBitcoinsistemi2024/10/04 11:30
By:Utku Yanık

US spot Bitcoin exchange-traded funds (ETFs) reported net outflows of $54.13 million on Thursday, marking the third consecutive day of negative flows.

US Spot Bitcoin ETFs Record Third Day of Consecutive Gains, $54 Million in Outflows

Cumulative outflows during this period now exceed $388 million, reflecting a significant shift in investor sentiment.

The biggest outflows were seen in Ark Invest and 21Shares’ ARKB, which lost $57.97 million, according to SoSoValue data. Fidelity’s FBTC also reported significant outflows, with $37.21 million out of the fund.

Meanwhile, BlackRock’s IBIT led the inflows with $35.96 million, followed by Bitwise’s BITB, which recorded $2.65 million, and Invesco’s BTCO, which gained $2.44 million. The remaining seven funds, including Grayscale’s GBTC, reported zero inflows for the day.

Overall, spot Bitcoin ETFs saw total trading volume of $1.13 billion on Thursday, down from $1.66 billion the day before. Despite the recent outflows, these funds have collected net inflows of $18.47 billion since their launch in January.

U.S. spot Ethereum ETFs also saw net outflows on Thursday, with $3.2 million exiting the funds. Grayscale’s ETHE led the outflows, losing $14.69 million, while Fidelity’s FETH saw outflows of $587,090.

However, BlackRock’s ETHA partially offset the losses by recording $12.08 million in inflows, while the other six Ethereum ETFs saw no movement throughout the day.

Ether ETFs reported total trading volume of $115.66 million, down from $197.82 million on Wednesday. Since their launch in July, Ethereum ETFs have reported net outflows of $561.05 million.

*This is not investment advice.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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