US Spot Bitcoin Exchange Traded Funds (ETFs) Put an End to 7-Day Winning Streak with Outflows!
Spot Bitcoin exchange-traded funds (ETFs) in the United States saw a decrease in net inflows on Tuesday, breaking a streak of seven consecutive days of positive growth.
According to data from SoSoValue, a total of 12 spot Bitcoin ETFs experienced a net outflow of $79.09 million. The outflows were solely from Ark and 21Shares’ ARKB, which accounted for $134.74 million in outflows. Let’s take a look at the performance breakdown of these funds:
– BlackRock’s IBIT, the largest spot Bitcoin ETF in terms of net assets, received $42.98 million in inflows.
– Fidelity’s FBTC saw inflows of $8.85 million.
– VanEck’s HODL reported net inflows of $3.82 million.
– Grayscale’s GBTC and seven other funds reported no flows for the day.
With the net outflow of $79 million on Tuesday, the cumulative inflows across the 12 Bitcoin ETFs decreased to $21.15 billion. Additionally, the trading volume for these ETFs also declined, dropping from $1.76 billion on Monday to $1.4 billion.
It is worth noting that these inflows coincided with Bitcoin’s recent rally, reaching a price of over $69,400 on Monday. BlackRock’s IBIT alone attracted $1.5 billion in inflows during this period, indicating strong investor interest.
On the other hand, spot Ethereum ETFs in the US saw a modest increase in net inflows of $11.94 million on Tuesday, all of which can be attributed to BlackRock’s ETHA. The remaining eight Ethereum funds reported no inflows for the day.
The total trading volume for Ethereum ETFs decreased from $163.18 million on Monday to $118.4 million.
Since their launch, Ethereum ETFs have experienced a total net outflow of $488.85 million.
Please note that this article does not provide investment advice.
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