Spot bitcoin exchange-traded funds (ETFs) faced another round of outflows as five funds pulled out $175.67 million. At the same time, despite a trading volume of $173.66 million, ether ETFs saw no net gains or losses on Friday.
Friday Market Recap: Ether ETFs See Zero Gains as Bitcoin ETFs Bleed $175 Million
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Bitcoin ETFs Lose $175 Million; Ether ETFs Show No Change
Bitcoin ETFs experienced another setback on Friday, with $175.67 million exiting the group of 12. Throughout the day, $1.54 billion was settled in trading volume, yet none of the funds posted any gains. Grayscale’s GBTC took the hardest hit of the day, dropping $70.22 million. Close behind was ARKB, which saw a loss of $65.05 million, according to sosovalue.xyz stats.
Bitwise’s BITB slipped by $16.38 million, Fidelity’s FBTC decreased by $12.88 million, and Invesco’s BTCO fell by $11.14 million. The collective $175.67 million loss brings the group’s total net inflows down to $17.60 billion. Altogether, the 12 ETFs now control $53.78 billion in BTC, accounting for 4.61% of bitcoin’s total market cap.
On the other hand, the spot ether exchange-traded funds had a quiet day with no gains or losses recorded. Although the nine funds saw $173.66 million in trading volume, net inflows and outflows balanced out to zero. Since July 23, the ETH ETFs have accumulated a net outflow of $477.25 million. Currently, the nine funds hold $6.97 billion, which represents 2.3% of ether’s market cap.
What do you think about the spot ETF action on Friday between the bitcoin and ether funds? Share your thoughts and opinions about this subject in the comments section below.
