The recent significant decline in Bitcoin (BTC) and Ethereum (ETH) prices has also impacted US-based Exchange Traded Funds (ETFs). While Bitcoin and Ethereum ETFs have been experiencing gains in the US market, yesterday's data reveals a notable trend of outflows.
Bitcoin ETF Outflows Reach Highest Level Since August
According to data from Farside Investors, spot Bitcoin ETFs in the US experienced net outflows totaling $566.4 million. This figure represents the highest level of outflows recorded since August 1st.
The largest single-day exit was observed yesterday, with a total of $566.4 million flowing out of US-traded spot Bitcoin ETFs. This marks the most substantial single-day outflow since August 1st.
Fidelity’s FBTC fund recorded the largest outflow, amounting to $356.6 million. Following closely, Ark Invest’s ARKB fund saw outflows of $128.1 million. Grayscale’s GBTC fund experienced outflows of $48.9 million, while VanEck’s HODL fund had outflows of $17 million. Franklin’s EZBC fund saw $8.7 million in outflows, and Bitwise’s BITB fund experienced outflows of $7.1 million.
Data for BlackRock’s IBIT fund had not yet been updated at the time of reporting. Additionally, Invesco’s BTCO fund, Valkyrie’s BRRR fund, Grayscale’s BTC fund, and WisdomTree’s BTCW fund showed no net inflows or outflows.
Ethereum ETF Outflows Continue for Fifth Consecutive Day
Outflows have persisted in spot Ethereum ETFs, with yesterday’s data showing $108.3 million in outflows. This marks the fifth consecutive day that Ethereum ETFs have experienced net outflows.
Grayscale's ETH fund recorded the highest outflow among all Ethereum ETFs, totaling $68.6 million.
Fidelity's FETH fund followed with an outflow of $19.9 million, and Grayscale's ETHE fund saw outflows of $19.8 million.
Data for BlackRock’s ETHA fund was still pending at the time of reporting. Meanwhile, Bitwise’s ETHW fund, 21Shares’ TETH fund, VanEck’s ETHV fund, Invesco’s QETH fund, and Franklin’s EZET fund all reported no net inflows or outflows.