According to Cointelegraph, BlackRock’s Bitcoin exchange-traded fund (ETF) has experienced its second-ever outflow day since its launch in January. The iShares Bitcoin Trust ETF (IBIT) recorded a $13.5 million net outflow on August 29, following a previous outflow of $36.9 million on May 1. This earlier outflow was part of a record joint outflow day for Bitcoin ETFs, totaling $563.7 million, according to Farside Investors data.

On August 29, the 11 United States-based Bitcoin ETFs collectively saw net outflows amounting to $71.8 million. BlackRock’s fund ranked third in outflows for the day, behind the Fidelity Wise Origin Bitcoin Fund (FBTC) with $31.1 million and the Grayscale Bitcoin Trust (GBTC) with $22.7 million.

The outflow for IBIT came shortly after it recorded a significant net inflow of $224.1 million on August 26, its largest since July 22, when it saw $526.7 million in inflows. Cathie Wood’s ARK 21Shares Bitcoin ETF was the only fund to see net inflows on August 29, with $5.3 million.

The recent Bitcoin ETF outflows coincide with a broader decline in Bitcoin’s price, which has dropped approximately 3.43% over the past week to trade at $58,751, according to CoinMarketCap. Meanwhile, US-based spot Ether (ETH) ETFs also experienced minor joint outflows of $1.7 million on August 29, with many funds seeing zero flows. Seven out of the nine Ether ETFs recorded no flows on that day.

The Grayscale Ethereum Mini Trust (ETH) was the only ETF to register a net inflow of $3.6 million, which was insufficient to offset the $5.3 million in net outflows from its higher-fee counterpart, the Grayscale Ethereum Trust (ETHE). Since its launch in July, the Grayscale Ethereum Trust has seen net outflows nearly every day, accumulating $2.56 billion in total outflows. The price of ETH has also been on a downward trend, falling 5.64% over the past week to $2,517.06, according to CoinMarketCap.