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CDS Crypto News Bitcoin ETFs Lose $43.97M in Outflows as Ethereum ETFs Also Decline

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Bitcoin ETFs Lose $43.97M in Outflows as Ethereum ETFs Also Decline

U.S. spot Bitcoin and Ethereum ETFs experienced significant outflows on Sept. 11, with ARK 21Shares leading the Bitcoin withdrawals. Despite this, Bitcoin ETFs have seen positive net inflows over the past three days

Zeynep Öztürk12/09/20241 Mins read62

Bitcoin ETFs Lose $43.97M in Outflows as Ethereum ETFs Also Decline

On September 11, spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the United States experienced notable outflows, following a day of positive inflows.

According to data from SoSoValue, the 12 spot Bitcoin ETFs in the U.S. saw a combined net outflow of $43.97 million on September 11, marking the end of a two-day streak of positive inflows.

ARK 21Shares’ ARKB ETF recorded the largest outflow, with investors withdrawing $54 million. Grayscale’s GBTC followed, reporting net outflows of $4.6 million, while the Bitcoin Mini Trust posted outflows of approximately $511,230.

On the flip side, Fidelity’s FBTC led the day’s inflows, attracting $12.6 million in new capital. Invesco’s BTCO came in next with $2.6 million in net additions. Seven other Bitcoin ETFs, including BlackRock’s IBIT, saw no trading activity. Notably, IBIT, the largest spot Bitcoin ETF by assets under management, has not seen any net inflows since August 26.

Despite the outflows, Bitcoin ETFs posted net positive flows over the last three days, with total inflows reaching around $101.7 million. The total trading volume for the 12 ETFs surged to $1.27 billion on September 11, significantly higher than the $717 million recorded the previous day. Since inception, these funds have accumulated a total net inflow of $17 billion. As of this writing, Bitcoin is up 2.7% in the past 24 hours, trading at $57,932, according to data from crypto.news.

Similarly, the nine U.S. spot Ethereum ETFs recorded a collective net outflow of $542,870 on September 11, led by VanEck’s ETHV, which saw $1.7 million in outflows. Fidelity’s FETH was the sole ETF to register an inflow, adding $1.2 million, though it wasn’t enough to offset the overall decline.

The remaining Ethereum ETFs remained neutral for the day.

Trading volume for the Ether ETFs also rose, reaching $126.2 million on September 11, compared to the previous day’s activity. Cumulatively, these spot Ether ETFs have seen net outflows of $562.6 million since their inception. At the time of publication, Ethereum was trading at $2,354, up 1% over the past day.