Spot Bitcoin ETFs Break Two-Day Inflows Trend With Net Outflows of $43 Million
The US spot Bitcoin ETFs broke their two-day inflow trend with over $43 million net outflows. ARK 21Shares' ARKB pioneered the retraction move with a net outflow of $54 million.
Similarly, the Spot Ether ETFs saw a cumulative exit of $542,870 on Wednesday.
The Bitcoin ETFs' shift in flows came amid the positive outlook in the broader crypto market. With slight reclaims, Bitcoin closed the day above the $57,000 region.
Spot Bitcoin ETFs Net Outflows Of $43 Million On Wednesdaythe US spot Bitcoin ETFs saw net outflows of $43.97 million, breaking their two-day inflow streak.
According to data from SoSoValue, ARK 21Shares' ETF, ARKB, led the outflows with the exit of $54.03 million. Following the outflows, ARKB has net inflows of $2.23 billion as of September 11.
Grayscale's GBTC is second in net outflows, with $4.59 million, while its Bitcoin Mini Trust (BTC) also recorded net outflows of $511,230.
Just two ETFs, Fidelity's FBTC and Invesco Galaxy's BTCO, posted net inflows for the day as of September 11. FBTC saw the largest daily inflows of $12.6 million, bringing its net inflows to $9.52 billion, while BTCO recorded inflows of $2.6 million.
However, the other seven ETFs, including BlackRock's IBIT, recorded zero daily net flows. IBIT has not recorded any inflow since August 26 but witnessed its third-ever net outflows of $9.1 million on September 9.
The daily trading volume for the 12 BTC ETFs surged to $1.2 billion on Wednesday from $712.25 million on Tuesday. According to Farside Investors, the ETFs have amassed $16.99 billion in net inflows.
Spot Ethereum-Based ETFs Hit Net OutflowsThe Ethereum-based ETFs also recorded net outflows of $542,870 on Wednesday. According to data from Farside Investors, only two Ether ETFs experienced flows for the day, while the remaining seven products had zero net flows.
Meanwhile, Fidelity's FETH was the only ETF with net positive flows for the day. The product recorded net inflows of $1.2 million. On the other hand, VanEck Ethereum ETF, ETHV, saw a total of $1.7 million in net outflows.
The daily trade volume for the Ether ETFs rose to $126.22 million on Wednesday from $102.87 million the previous day. The products have a total of $562.06 million in net outflows.
The broader crypto market has slightly recovered, pushing most assets to green. According to CoinMarketCap, the overall market cap surged by 2.12% to reach $2.04 trillion.
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