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Spot Ethereum ETFs Experience Notable Withdrawals

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Spot Ethereum ETFs Experience Notable Withdrawals

Spot Ethereum ETFs- Fidelity’s Bitcoin Fund Sees Major Outflows

Spot Ethereum ETFs– U.S. spot Bitcoin exchange-traded funds (ETFs) faced a substantial decline in investor interest, recording $242.53 million in net outflows on Tuesday. This marks the largest daily net outflows since September 3, effectively ending an eight-day streak of positive inflows. As market volatility continues, both Bitcoin and Ether have reacted sharply, indicating broader market sentiments.

Major Players in Bitcoin ETFs See Outflows

Among the various spot Bitcoin ETFs, Fidelity’s FBTC experienced the largest net outflows, with $144.67 million exiting the fund. According to SoSoValue data, Ark and 21Shares’ ARKB followed with net outflows of $84.35 million, representing the fund’s largest withdrawals since August 27. Other notable outflows included Bitwise’s BITB, which reported $32.7 million in outflows, and VanEck’s with $15.75 million. Interestingly, Grayscale’s GBTC, the second-largest spot Bitcoin ETF by net assets, recorded $5.9 million in net outflows. In contrast, BlackRock’s IBIT, the largest spot Bitcoin ETF, was the only one among the twelve ETFs to experience positive flows, bringing in $40.84 million.

Market Reaction: Bitcoin and Ether Prices Decline

Following the outflows, Bitcoin saw a 3.47% decline over the past 24 hours, trading at $61,446 at the time of writing. Ether, too, faced a notable drop, sliding 5.89% to change hands at $2,480. The total trading volume for these spot Bitcoin ETFs reached $2.53 billion on Tuesday, a significant increase from $1.37 million on Monday, highlighting the heightened activity despite the outflows.

Ethereum ETFs Also Experience Outflows

Spot Ethereum ETFs in the U.S. recorded $48.52 million in net outflows on the same day. The Grayscale Ethereum Trust led these outflows with $26.64 million, while Fidelity’s FETH reported its largest daily net outflows on record at $24.97 million. Additionally, Bitwise’s ETHW experienced $895,650 in net outflows. However, not all Ethereum funds faced withdrawals; VanEck’s ETHV logged net inflows of $2.74 million, and 21Shares’ CETH saw inflows of $1.25 million. The remaining four spot Ether ETFs reported zero flows, indicating a mixed response across the sector. The total trading volume for the nine spot Ether ETFs reached $290.81 million, up from $149.14 million on Monday, showing robust trading activity despite the outflows.

FAQs

What caused the recent outflows in Bitcoin ETFs?

The recent outflows in Bitcoin ETFs, totaling $242.53 million, were driven by a combination of market volatility and declining prices of Bitcoin and Ether. As Bitcoin fell by 3.47% to $61,446 and Ether dropped by 5.89% to $2,480, investors reacted by pulling funds from these ETFs, marking the largest outflows since early September.

Which Bitcoin ETFs experienced the largest outflows?

Fidelity’s FBTC experienced the largest net outflows, with $144.67 million exiting the fund. Other significant outflows included Ark and 21Shares’ ARKB, which saw $84.35 million leave, and Bitwise’s BITB, with $32.7 million in outflows. Notably, BlackRock’s IBIT was the only major ETF to record positive inflows during this period.

Spot Ethereum ETFs Experience Notable Withdrawals

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