Spot Bitcoin exchange-traded funds (ETFs) recorded net outflows in the US for the third day in a row. There was a net outflow of $54.13 million on Thursday, bringing the total net outflow over the last three days to over $388 million. Ark Invest and 21Sharesâ ARKB fund led the way with an outflow of $57.97 million. Fidelityâs FBTC fund also experienced an outflow of $37.21 million on the same day. On the other hand, BlackRockâs IBIT fund had the highest net inflow with $35.96 million.
Latest on Spot Bitcoin ETFs
Total daily trading volume for spot Bitcoin ETFs on Thursday was recorded at $1.13 billion, a significant decrease from the previous dayâs volume of $1.66 billion. BlackRockâs IBIT fund, meanwhile, saw net inflows of $35.96 million, Bitwiseâs BITB fund saw net inflows of $2.65 million, and Invescoâs BTCO fund saw net inflows of $2.44 million.
Meanwhile, seven other funds, including Grayscaleâs GBTC, did not report any inflows or outflows.
Launched in January, these funds have reached a total net inflow of $18.47 billion. Despite the decrease in the trading volume of spot Bitcoin ETFs, the fact that some funds are still able to provide net inflows shows the effects of the overall market volatility.
Spot Ethereum ETFs Also Accelerate Outflows
Similar to spot Bitcoin ETFs, ETH ETFs continued to experience net outflows. On Thursday, there was a net outflow of $3.2 million from spot Ethereum ETFs in the U.S. Grayscaleâs ETHE fund had the largest outflow with $14.69 million, while Fidelityâs FETH fund also saw an outflow of $587,090. However, BlackRockâs ETHA fund partially offset the outflows with a net inflow of $12.08 million.
The trading volume of spot Ethereum ETFs was recorded as $115.66 million on Thursday. This figure was $197.82 million the day before. Spot Ethereum ETFs, which were launched in July, have experienced a total net outflow of $561.05 million since then. This shows that investor interest in Ethereum has decreased due to the effects of market fluctuations.
