US spot bitcoin ETFs see $287 million in net outflows, largest negative flows since May!

Reported by The Block: On Tuesday, spot bitcoin ETFs in the U.S. recorded $287.78 million in net outflows.

Bitcoin traded down 3.93% over the past 24 hours at $56,680 at the time of writing.

U.S. spot bitcoin exchange-traded funds continued their streak of negative flows on Tuesday.

According to data from SosoValue, the 12 spot bitcoin ETFs recorded net outflows of $287.78 million on Tuesday, the largest negative flows since May 1. BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, logged zero flows for the day.

Grayscale’s GBTC, the second-largest spot bitcoin ETF, saw $50.39 million leave the fund, while Fidelity’s FBTC recorded the largest outflows, with $162.26 million.

Ark and 21Shares’ ARKB logged outflows of $33.6 million, and Bitwise’s BITB reported $24.96 million in net outflows. Several other ETFs managed by VanEck, Valkyrie, Invesco and Franklin Templeton also saw modest outflows.

The significant outflows came amid a market selloff, with Wall Street plummeting on Tuesday on weaker ISM data in the U.S. The U.S. ISM manufacturing index for August came in at 47.2%, up 0.4 percentage points from July.

The total trading volume for the spot bitcoin ETFs amounted to $1.56 billion on Tuesday, compared to $1.54 billion last Friday. The U.S. market was closed on Monday for a holiday.

Ether ETFs also experienced outflows

Meanwhile, spot ether ETFs in the U.S. recorded net outflows of $47.4 million on Tuesday, the most significant daily negative flows since August 2.

The Grayscale Ethereum Trust (ETHE) was the only spot ether ETF to report outflows for the day, with $52.31 million. Fidelity’s FETH logged $4.91 million in net inflows. Seven other spot ether ETFs saw no flows. The daily trading volume of these ether ETFs shrank to $163.5 million on Tuesday from $173.66 million last Friday.

#BTTcReward #BTC☀ #ETH🔥🔥🔥🔥 #BNBAnalysis #BNBChainMemecoins $USDC $SOL $BTC