đ„đ„đ„ Spot #BitcoinETFs see $43 million in outflows, breaking two-day inflow run
U.S. Spot Bitcoin ETFs See $43.97 Million in Outflows on Wednesday
Spot Bitcoin exchange-traded funds (ETFs) in the U.S. posted net outflows of $43.97 million on Wednesday, ending a two-day streak of positive inflows.
Among the ETFs, Ark Invest and 21Sharesâ ARKB saw the largest outflows, totaling $54.03 million, according to data from SoSoValue. Grayscaleâs GBTC recorded $4.59 million in net outflows, while its Bitcoin Mini Trust experienced outflows of around $511,230.
On the other hand, Fidelityâs FBTC led inflows, reporting $12.57 million in net gains, while Invescoâs BTCO saw $2.59 million flow into the product. Seven other funds, including BlackRockâs IBIT, recorded no daily flows, with #IBIT having reported no net inflows since August 26.
The 12 Bitcoin ETFs recorded a total daily trading volume of $1.27 billion on Tuesday, a significant increase from $712.25 million the previous day. Since their launch in January, these funds have accumulated $17 billion in net inflows.
#EtherETFs Also See Outflows
Spot Ethereum ETFs in the U.S. posted net outflows of about $542,870, with seven out of nine funds showing no daily inflows. VanEckâs ETHV had $1.71 million in outflows, while Fidelityâs FETH recorded $1.17 million in net inflows.
Ether ETFs had a total daily trading volume of $126.22 million on Wednesday, up from $102.87 million on Tuesday. Cumulatively, Ethereum ETFs have experienced $562.06 million in net outflows.
Market Response and Economic Outlook
Bitcoinâs price rose 3.37% over the past 24 hours, reaching $58,318, while Ether gained 1.78%, trading at around $2,373, according to The Blockâs crypto price page.
Rachael Lucas noted that Bitcoin and Ethereum ETF outflows are a normal reaction to strong U.S. data. Inflation rose 0.2% in August, bringing the 12-month rate to 2.5%. Investors await next weekâs Fed meeting, with an 85% chance of a 25 basis point rate cut.
Source - theblock.co
