US Spot Bitcoin ETFs Suffer $148 Million in Outflows, Ether ETFs Attract $98 Million in New Capital
US Bitcoin Spot ETFs– On Tuesday, spot Bitcoin ETFs in the U.S. faced significant negative flows, with $148.5 million in net outflows recorded. Data from SoSoValue highlights that Fidelity’s FBTC led the outflows with $64.48 million. Grayscale’s converted GBTC fund saw $32.18 million in outflows, Ark Invest and 21Shares’ ARKB experienced $28.88 million in net outflows, and Franklin Templeton’s Bitcoin fund lost $23 million.
BlackRock’s IBIT, the largest spot Bitcoin ETF by net asset value, reported no flows, along with seven other funds. On the same day, $2.2 billion worth of trades occurred in spot Bitcoin ETFs. Since their launch in January, these 12 funds have gathered a total net inflow of $17.19 billion.
In contrast, spot Ethereum ETFs enjoyed positive inflows on Tuesday, totaling $98.3 million. BlackRock’s ETHA led with $109.89 million in inflows, followed by Fidelity’s FETH with $22.49 million. Grayscale’s mini trust saw $4.7 million in inflows, and Franklin Templeton’s ether fund attracted under $1 million.
Augustine Fan, Head of Insights at SOFA.org, noted, We need to put things in perspective to understand the differences between BTC ETFs and ETH ETFs. The ETH ETF has seen very muted cumulative inflows since launch, whereas BTC has experienced substantial positive inflows recently.
The overall direction of crypto will move along with how high beta stocks (tech) and risk appetite are in the near term, which we expect to be muted, To break back in a positive direction, we would need more confidence that the US is not heading into a recession, a strong performance from Powell at Jackson Hole, and, lastly, a more sustained risk sentiment recovery into September/October, and perhaps with Trump’s election odds hopefully seeing a rebound as well.
SOFA.org’s Fan
Fan added, ETH has already seen heavy selling across perpetual, spot, and ETFs, so a small rebound as risk sentiment recovers slightly makes sense.
Overall, $330.13 million worth of ether funds were traded yesterday, with a total of $363 million in net outflows since the fund’s listing on July 23.
FAQs
What does the $148 million net outflow for Bitcoin spot ETFs mean?
The $148 million net outflow indicates that investors have withdrawn a total of $148 million more from Bitcoin spot exchange-traded funds (ETFs) than they have invested in them over a specific period. This reflects a decrease in investment or a reduction in the total assets held by these ETFs.
Which Bitcoin spot ETFs experienced the largest outflows?
The largest outflows were seen in Fidelity’s FBTC, which experienced $64.48 million in withdrawals. Other significant outflows included Grayscale’s converted GBTC fund with $32.18 million, Ark Invest and 21Shares’ ARKB with $28.88 million, and Franklin Templeton’s Bitcoin fund with $23 million.
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