Spot bitcoin exchange-traded funds (ETFs) in the United States have observed significant outflows, totaling $242.53 million on Tuesday. This marks the largest daily net outflows since September 3, ending an eight-day streak of positive inflows.
According to SoSoValue data, Fidelity’s FBTC recorded the largest net outflows among spot bitcoin ETFs, with $144.67 million exiting the fund. Following closely, Ark and 21Shares’ ARKB experienced net outflows of $84.35 million, marking the fund's largest outflows since August 27. Additionally, Bitwise’s BITB reported net outflows of $32.7 million, while VanEck logged $15.75 million in net outflows. Grayscale’s GBTC, the second-largest spot bitcoin ETF by net assets, recorded $5.9 million in net outflows.
Among the twelve ETFs analyzed, BlackRock’s IBIT, the largest spot bitcoin ETF, was the only one to record positive flows, attracting $40.84 million into the product.
The total trading volume for these spot bitcoin ETFs reached $2.53 billion on Tuesday, a significant increase from $1.37 million on Monday. Meanwhile, bitcoin saw a decline of 3.47% over the past 24 hours, trading at $61,446, while ether dropped 5.89% to $2,480.
Spot Ethereum ETFs in the U.S. recorded $48.52 million in net outflows on Tuesday. The Grayscale Ethereum Trust led the way with outflows of $26.64 million, while Fidelity’s FETH reported outflows of $24.97 million, marking its largest daily net outflows on record. Bitwise’s ETHW also saw $895,650 in net outflows.
However, VanEck’s ETHV logged net inflows of $2.74 million, and 21Shares’ CETH saw inflows of $1.25 million. The remaining four spot ether ETFs recorded no flows.
The trading volume for the nine spot ether ETFs reached $290.81 million on Tuesday, a rise from $149.14 million on Monday.
Disclaimer: The Block is an independent media outlet delivering news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. The Block continues to operate independently to deliver objective, impactful information about the crypto industry.
