Bitcoin Spot ETFs Post $168M in Outflows While Ethereum ETFs See Meager Inflows
Investors have withdrawn approximately $168 million from nine U.S. spot Bitcoin exchange-traded funds (ETFs) on Monday.
Over the last two days, net outflows from these ETFs have reached a staggering $405 million, according to data from Farside Investors.
In contrast, spot Ethereum ETFs experienced net inflows totaling nearly $49 million during the same period.
The most notable outflows were from Grayscale’s Bitcoin ETF (GBTC) and Fidelity’s Bitcoin fund (FBTC), with each fund witnessing withdrawals of about $69 million.
Interestingly, Grayscale’s Bitcoin Mini Trust (BTC), a low-cost alternative to GBTC, saw the highest daily inflows, attracting almost $29 million.
Bitwise’s Bitcoin ETF (BITB) and Valkyrie’s Bitcoin fund (BRRR) also recorded gains, each pulling in approximately $6 million.
Other Bitcoin ETFs, such as BlackRock’s iShares Bitcoin Trust (IBIT), reported no flows.
On the trading front, U.S. Bitcoin and Ethereum ETFs saw a combined trading volume of nearly $6 billion on Monday, with spot Bitcoin ETFs alone accounting for over $5 billion.
IBIT and FBTC led this trading activity.
Spot Ethereum ETFs, led by Grayscale’s Ethereum ETF and BlackRock’s iShares Ethereum Trust (ETHA), contributed around $715 million to the total volume.
Eric Balchunas, an ETF analyst at Bloomberg, described the high trading volume during a market downturn as a reliable indicator of market fear.
He emphasized that deep liquidity during such times is valuable to traders and institutions, suggesting long-term benefits for ETFs.
Bitcoin ETFs have traded about $2.5b so far, a lot for 10:45am, but not too crazy (full history below). If you bitcoin bull you actually DONT want to see crazy volume today as ETF volume on bad days is a pretty reliable
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