The latest figures reveal that 12 U.S. spot bitcoin exchange-traded funds (ETFs) faced $54.13 million in net outflows on Thursday. Similarly, nine spot ether ETFs weren’t spared, as they saw $3.2 million pulled from their funds.
Spot ETH and BTC ETFs Hit by Withdrawals, Losing $54.13M and $3.2M Respectively
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Crypto ETFs Face More Losses
On Oct. 3, 2024, the nine spot ethereum ETFs posted losses after enjoying gains just a day earlier. The funds saw $3.2 million withdrawn, largely driven by Grayscale’s ETHE, which shed $14.69 million on Thursday. In addition to ETHE, Fidelity’s FETH fund also took a hit, losing $587,009. However, Blackrock’s ETHA fund helped mitigate the damage by pulling in $12.08 million in positive inflows.
The $3.2 million pulled from the nine funds brings the total net outflows since July 23 to $561.05 million, according to sosovalue.xyz data. Altogether, the funds now hold $6.44 billion in ether, accounting for 2.28% of ethereum’s total market value. Thursday’s trading session saw a total of $115.66 million in volume.
Spot bitcoin ETFs faced even steeper losses, with a total of $54.13 million withdrawn. This reduction brings cumulative net inflows since Jan. 11 to $18.47 billion. The day’s largest loser was Ark Invest and 21shares’ ARKB fund, which dropped $57.97 million. Fidelity’s FBTC followed with a reduction of $37.21 million, but Blackrock’s IBIT helped counterbalance the day’s downturn.
IBIT attracted $35.96 million, while Bitwise’s BITB secured $2.65 million, and Invesco’s BTCO added $2.44 million in positive inflows. Thursday saw $1.13 billion in trading volume, and the 12 funds collectively hold $56.31 billion, according to sosovalue.xyz metrics—representing 4.69% of bitcoin’s total market capitalization.
What do you think about Thursday’s crypto ETF action? Share your thoughts and opinions about this subject in the comments section below.
