US spot bitcoin ETFs experienced significant outflows totaling $91.76 million on Wednesday, extending the negative flow streak to two consecutive days.
Ark and 21Shares’ ARKB was the primary contributor to these outflows, losing $60.28 million. Grayscale’s GBTC, the second-largest spot bitcoin ETF by net assets, saw $27.31 million in net outflows.
Furthermore, BlackRock’s IBIT, the largest spot bitcoin ETF, recorded $13.74 million in outflows, marking its first daily decline since September 9. Bitwise’s BITB also faced outflows of $11.51 million. The seven other spot bitcoin ETFs reported zero flows.
The total trading volume for these ETFs decreased to $1.66 billion on Wednesday, down from $2.53 billion the previous day.
During this period, Bitcoin dipped 0.46%, trading around $61,183, while Ethereum fell 3.77%, trading at $2,391, according to The Block’s price page.
In contrast, spot Ethereum ETFs in the U.S. recorded $14.45 million in net inflows on the same day, following outflows of $48.52 million the day before.
BlackRock’s ETHA saw an influx of $18.04 million, while Franklin Templeton’s EZET reported net outflows of $1.81 million. The Grayscale Ethereum Trust (ETHE) was the only spot ether ETF to experience negative flows, with outflows of $5.4 million. The other six spot ether ETFs recorded zero flows.
The total trading volume for these nine ETFs decreased to $197.82 million on Wednesday, down from $290.81 million on Tuesday.
Disclaimer: The Block is an independent media outlet providing news and data. As of November 2023, Foresight Ventures is a majority investor in The Block. The Block operates independently to deliver objective information about the crypto industry.
