Spot Bitcoin ETFs See Largest Outflows Since May 1, Totaling $287M
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U.S. spot Bitcoin exchange-traded funds (ETFs) experienced their largest outflows since May 1, with net outflows reaching $287.78 million on Tuesday
According to data from SosoValue, BlackRock’s IBIT, the largest spot Bitcoin ETF by assets, reported no significant flows for the day.
On the other hand, Grayscale’s GBTC, the second-largest spot Bitcoin ETF, saw $50.39 million withdrawn.
Fidelity’s FBTC faced the heaviest losses, with $162.26 million in outflows.
Other notable outflows included Ark and 21Shares’ ARKB, which recorded $33.6 million in withdrawals, and Bitwise’s BITB, which saw $24.96 million leave the fund.
Additionally, ETFs managed by VanEck, Valkyrie, Invesco, and Franklin Templeton also reported smaller outflows.
The outflows came as Wall Street saw a significant downturn, triggered by weaker-than-expected U.S. manufacturing data.
The Institute for Supply Management (ISM) manufacturing index for August came in at 47.2%, a slight increase from July but still below the 50% mark, indicating contraction.
Spot Bitcoin ETF trading volume reached $1.56 billion on Tuesday, slightly up from $1.54 billion last Friday, despite the U.S. market being closed on Monday for a holiday.
Meanwhile, U.S. spot Ether ETFs also recorded outflows, with $47.4 million leaving the market on Tuesday, marking the largest single-day outflows since August 2.
On September 3, the total net outflow of Ethereum spot ETF was 47.3994 million US dollars. Grayscale ETF ETHE outflow was 52.3103 million US dollars, and Fidelity ETF FETH inflow was 4.9109
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