U.S. Bitcoin ETFs See $28.6 Million in Net Inflows, Breaking Eight-Day Outflow Streak

The US spot Bitcoin exchange-traded funds (ETFs) broke the prolonged negative flows on September 9. Following eight days of outflows, the products recorded net inflows of $28.6 million.

This trend reversal followed Bitcoin's slight recovery the same day. After dropping below the $55,000 threshold on September 6, BTC rose to a daily high of $58,041 on September 9.

However, despite the positive flows, BlackRock's IBIT, the largest US BTC ETF, recorded an outflow. IBIT saw $9.1 million in outflows, marking its third-ever net outflows since its launch in January.

Spot Bitcoin ETFs Record Net Inflows After Prolonged Outflows Streak

On September 9, the US spot Bitcoin ETFs secured net inflows of $28.6 million after eight days of continuous net outflows. According to data from Farside Investors, Fidelity Wise Origin Fund (FBTC) led inflows with net inflows of $28.6 million.

Bitwise Bitcoin ETF (BITB), ARK 21Shares Bitcoin ETF (ARKB), and Invesco Galaxy Bitcoin ETF (BTCO) amassed $22 million, $6.8 million, and $3.1 million in net outflows, respectively.

Conversely, BlackRock iShares Bitcoin Trust (IBIT) saw the exit of $9.1 million, its third-ever daily net outflows. IBIT recorded its first two daily net outflows of $36.9 million and $13.5 million on May 1 and August 29, respectively.

Similarly, Grayscale's GBTC lost about $22.8 million in net outflows on September 9. However, the remaining five ETFs indicated zero net flows for the day.

During their streak of net outflows, the 12 spot Bitcoin ETFs saw the exit of $1.2 million between August 27 and September 6. As of September 9, the ETFs' net inflows stood at $16.93 billion, including Grayscale's GBTC's net outflows of $20 billion.

Meanwhile, the latest net inflows followed a broader crypto market recovery as Bitcoin vied to reclaim the $60,000 price threshold. According to data from CoinMarketCap, BTC surged to hit a daily high of $58,041 on September 9.Bitcoin trades at $57,117, reflecting a 3.32% increase over the past 24 hours.

Ethereum-Based ETFs Still Struggle With Negative Flows

The US spot Ethereum ETFs are still struggling with cumulative daily negative flows. On September 9, the spot Ether ETFsrecordednet outflows of $5.2 million.

Grayscale's ETHE was the only product with net outflows of $22.6 million. Meanwhile, the Grayscale Mini Ethereum Trust (ETH) amassed the most significant daily inflows, reaching $8.0 million.

Also, Fidelity's FETH saw $7.6 million in net inflows, while Bitwise's ETHW recorded an inflow of $1.8 million. However, theremaining five products had zero flows for the day.

Since their launch, the ETH ETFs have seen net outflows of $573.7 million. Moreover, Ether trades at around $2,326, showing a 1.45% increase within the past day.

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