U.S. spot Bitcoin exchange-traded funds (ETFs) continued to experience outflows, with $37.29 million exiting the products on Wednesday, marking the sixth consecutive day of negative flows.
This prolonged streak has put pressure on several leading Bitcoin ETFs, according to SosoValue data.
Grayscale’s GBTC, the second-largest spot Bitcoin ETF by net assets, led the decline, recording net outflows of $34.25 million.
Fidelity’s FBTC followed with $7.59 million in withdrawals, while VanEck’s HODL ETF saw $4.91 million in outflows from the fund.
Despite the overall negative trend, Bitwise’s BITB ETF was the only fund to see net inflows, drawing $9.46 million. BlackRock’s IBIT, the largest spot Bitcoin ETF, and seven other ETFs recorded zero inflows for the day.
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In addition to the outflows, the total daily trading volume of the 12 spot Bitcoin ETFs fell from $1.56 billion on Tuesday to $1.41 billion on Wednesday.
The negative trend extended to Ethereum ETFs, which saw net outflows of $37.51 million on Wednesday, marking the second day of consecutive outflows.
Grayscale’s Ethereum Trust (ETHE) took the hardest hit, losing $40.63 million, while the Grayscale Ethereum Mini Trust saw a modest inflow of $3.12 million.
Similar to Bitcoin ETFs, the remaining seven Ethereum ETFs also did not record significant inflows or outflows. The total trading volume of the nine Ethereum ETFs fell to $145.86 million from $163.5 million the day before.
*This is not investment advice.
Continue Reading: US Spot Bitcoin Exchange Traded Funds (ETFs) Post Negative Outflow for the Sixth Day in a Row! Here Are the Details
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Author: NixCoin
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