On Thursday, the 12 U.S. spot bitcoin exchange-traded funds (ETFs) experienced $71.73 million in outflows, with reductions seen across five distinct funds. Notably, Grayscale’s ETHE led the spot ether ETFs, which faced $1.77 million in outflows, by losing $5.35 million.
US Bitcoin ETFs See $71.73M in Outflows as 5 Funds Take a Hit
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Bitcoin and Ether ETFs Face Outflows
During the trading sessions on Aug. 29, the collective group of U.S. spot bitcoin ETFs recorded a total outflow of $71.73 million, with Fidelity’s FBTC seeing the most significant reduction at $31.11 million. Grayscale’s GBTC took a hit, dropping $22.68 million, while Blackrock’s IBIT followed closely behind, shedding $13.51 million. This marked the first notable outflow from IBIT since early May.
Bitwise’s BITB recorded a loss of $8.09 million, and Valkyrie’s BRRR fund wasn’t spared either, with $1.68 million exiting the fund. In contrast, Ark Invest’s and 21Shares’ ARKB fund was the lone bright spot, pulling in $5.34 million on Thursday. Meanwhile, Grayscale’s Bitcoin Mini Trust, along with HODL, BTCO, EZBC, BTCW, and DEFI, all had a steady day with neutral trading.
The outflows have now trimmed the cumulative net inflows from the funds to $17.78 billion. At present, the 12 funds collectively hold $54.36 billion in BTC, making up 4.62% of bitcoin’s market value. Meanwhile, the nine ETH ETFs saw $1.77 million in outflows, pushing the cumulative net outflows from these funds to $477.25 million. Only two funds experienced any change, with ETHE losing $5.35 million.
On the bright side, Grayscale’s Ethereum Mini Trust managed to pull in $3.57 million, countering some of the losses. On Thursday, approximately $95.91 million was settled among the nine ETH funds, which currently hold $7.03 billion in ETH, representing 2.3% of ether’s total market capitalization.
What do you think about the spot bitcoin and ethereum ETF action on Thursday? Share your thoughts and opinions about this subject in the comments section below.
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