Spot Bitcoin ETFs Experience Net Outflows

Spot bitcoin exchange-traded funds (ETFs) in the U.S. returned to net outflows on Tuesday, ending an eight-day streak of positive flows, according to data from SoSoValue. Over the eight days, U.S. spot bitcoin ETFs had attracted $756 million.

On Tuesday, U.S. spot bitcoin funds faced net outflows of $127 million. Notably, Valkyrie’s BRRR data remains unreported. The primary driver of these outflows was Ark & 21Shares’ ARKB, which reported negative flows of $101.97 million, as per SoSoValue data.

Grayscale’s GBTC observed net outflows of $18.32 million, alongside Bitwise’s BITB seeing $6.76 million in outflows. Eight funds, including BlackRock’s IBIT, reported zero flows on Tuesday.

Excluding BRRR, U.S. spot bitcoin funds registered a total trade volume of $1.2 billion, having accumulated $17.95 billion in net inflows since January.

Ether ETFs Report Ninth Day of Outflows

In parallel, spot ether ETFs logged their ninth consecutive day of net outflows, reporting $3.45 million in negative flows yesterday.

Grayscale’s ether fund noted a daily net outflow of $9.18 million, despite receiving $3.88 million in inflows into Fidelity’s FETH and $1.86 million into Bitwise’s ETHW.

On Monday, spot ether funds experienced $129.95 million in trading volume, significantly lower than the approximately $900 million observed in late July. The ether funds have now amassed total net outflows of $481.32 million.

Currently, bitcoin trades down 5.75% over the last 24 hours at $59,514, while ether has decreased 8.02% to $2,481, as reported on The Block’s price page.