U.S. spot bitcoin exchange-traded funds (ETFs) experienced a downturn on Tuesday, with $77.97 million exiting, breaking a streak of 12 consecutive days of inflows. In contrast, the newly launched spot ether ETF counterparts performed better.
US Bitcoin ETFs See $78M Outflow, Breaking 12-Day Inflow Streak
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3 Bitcoin ETFs Record Outflows as Blackrock’s IBIT Gains $71M
Following 12 consecutive days of inflows and a record influx of $533.57 million on Monday, U.S. spot bitcoin ETFs experienced a downturn on July 23. Approximately $77.97 million exited the funds, according to sosovalue.xyz, with three out of the 11 funds recording losses on Tuesday.
Blackrock’s IBIT was the sole gainer, attracting $71.94 million during the day’s trading session. Bitwise’s BITB saw an outflow of $70.32 million, while $52.29 million exited Ark Invest’s and 21shares’ ARKB. Additionally, Grayscale’s GBTC experienced a loss of $27.31 million on Tuesday. The funds FBTC, HODL, BRRR, BTCO, EZBC, BTCW, and DEFI remained unchanged with no gains or losses during the day.
The $77.97 million outflow reduces the cumulative total net inflow of the 11 ETFs to $17.46 billion. Approximately $2.34 billion was traded on Tuesday, and collectively, the 11 funds hold $59.97 billion worth of bitcoins, accounting for around 4.62% of BTC’s market valuation. In contrast, the nine ether ETFs performed better on Tuesday, accumulating about $106 million during the first day of spot ETH ETF trading.
What do you think about the U.S. spot bitcoin ETF performances on Tuesday? Share your thoughts and opinions about this subject in the comments section below.
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