BlackRock’s IBIT Records First Net Outflows Since May as Market Fails to Gain Momentum
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U.S. spot Bitcoin exchange-traded funds (ETFs) saw $71.73 million in net outflows on Thursday, marking the third consecutive day of declines.
BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, recorded its first net outflows since May 1, with $13.51 million exiting the fund, according to data from SosoValue.
Other major Bitcoin ETFs also experienced outflows.
Grayscale’s GBTC saw $22.68 million withdrawn, while Fidelity’s FBTC registered $31.11 million in outflows.
Bitwise’s BITB and Valkyrie’s BRRR reported outflows of $8.09 million and $1.68 million, respectively.
However, not all funds were in the red; Ark and 21Shares’ ARKB managed to buck the trend with net inflows of $5.34 million.
Trading volumes for the 12 spot Bitcoin ETFs also took a hit, dropping to $1.64 billion on Thursday, down from $2.18 billion the previous day.
On August 29, the total net outflow of Bitcoin spot ETFs was $71.7301 million. Grayscale ETF GBTC outflowed $22.6760 million, and Ark Invest and 21Shares' ETF ARKB had a inflow of $5.3363 million. Currently, the total net asset value of Bitcoin spot ETFs is $54.362 billion.…
Spot Ethereum ETFs mirrored the negative sentiment, with $1.77 million in net outflows on Thursday after a brief period of inflows.
The Grayscale Ethereum Trust (ETHE) led the outflows with $5.35 million, partially offset by net inflows of $3.57 million into the Grayscale Ethereum Mini Trust (ETH).
The remaining seven Ethereum funds saw no movement.
Total trading volume for the nine spot Ethereum ETFs fell to $95.91 million on
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