Spot bitcoin ETFs in the U.S. have reported net outflows of $54.13 million on Thursday. This marks their third consecutive day of negative flows, with cumulative outflows exceeding $388 million during this period.
The outflow trend was primarily driven by Ark Invest and 21Shares’ ARKB, which recorded $57.97 million in net outflows, according to data from SoSoValue. Similarly, Fidelity’s FBTC experienced $37.21 million in net outflows yesterday.
In contrast, BlackRock’s IBIT led the inflows with $35.96 million on Thursday. Additionally, Bitwise’s BITB saw net inflows of $2.65 million, followed by Invesco’s BTCO with $2.44 million. The remaining seven funds, including Grayscale’s GBTC, reported zero flows for the day.
On Thursday, spot bitcoin ETFs recorded a total daily trading volume of $1.13 billion, down from $1.66 billion the previous day. Since their launch in January, these funds have accumulated total net inflows of $18.47 billion.
In addition, U.S. spot Ethereum ETFs reported total daily net outflows of $3.2 million. Grayscale’s ETHE logged $14.69 million in net outflows, while around $587,090 exited Fidelity’s FETH.
These outflows were partially offset by $12.08 million in net inflows into BlackRock’s ETHA. The six other spot ether ETFs reported zero flows for the day.
The nine ether ETFs recorded $115.66 million in daily trading volume on Thursday, down from $197.82 million on Wednesday. Since their launch in July, these funds have experienced net outflows totaling $561.05 million.
According to The Block’s crypto price page, Bitcoin’s price has dropped 0.85% in the past 24 hours, trading at $60,959, while ether fell 1.38% to $2,366.
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. Crypto exchange Bitget is an anchor LP for Foresight Ventures.
