Spot Bitcoin ETF Trading Volume Drops to $897 Million: What It Means for Investors

Spot Bitcoin ETF- Positive Flow Trends in Bitcoin ETFs

Spot Bitcoin ETF– On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) experienced a notable daily net inflow of $39.02 million, reversing the negative flows from the previous day.

Top Performers and Inflows

The largest net inflows were recorded by Ark and 21Shares’ ARKB, which attracted $18.34 million. Fidelity’s FBTC followed with $11.47 million, and Grayscale’s Bitcoin Mini Trust saw $5.18 million in inflows. Other funds, including VanEck’s HODL and Franklin Templeton’s bitcoin fund, had smaller but positive inflows of $4.95 million and $3.38 million, respectively. Bitwise’s BITB also reported $2.22 million in inflows.

Outflows from Grayscale’s GBTC

In contrast, Grayscale’s GBTC experienced outflows, with $6.51 million exiting the fund. The remaining five bitcoin ETFs, including BlackRock’s IBIT, recorded no flows on Thursday. Notably, IBIT, the largest spot bitcoin ETF by net assets, has not seen net inflows since August 27.

Trading Volume and Cumulative Inflows

The total daily trading volume for the 12 bitcoin ETFs dropped to $896.92 million on Thursday, down from $1.27 billion the day before. Since their launch in January, these bitcoin funds have accumulated $17.03 billion in net inflows.

Ethereum ETFs Face Continued Outflows

Grayscale’s ETHE Leads Outflows

Spot Ethereum ETFs in the U.S. reported net outflows of $20.14 million, marking their second consecutive day of negative flows. All outflows were attributed to Grayscale’s ETHE, while the remaining eight ether funds had no flow activity.

Decrease in Trading Volume

The total daily trading volume for Ethereum ETFs was $106.14 million on Thursday, down from $126.22 million the previous day. Cumulative net outflows for ether ETFs reached $582.74 million.

Bitcoin Price and Market Outlook

Bitcoin Price Update

Bitcoin’s price remains around the $58,000 level, recently trading at approximately $57,916. After a drop below $53,000 due to weak non-farm payroll data, the cryptocurrency has recovered, supported by recent political debates and consumer price data releases.

Upcoming Federal Reserve Meeting

Investors are awaiting next week’s Federal Open Market Committee meeting, with CME Group’s FedWatch Tool indicating a 57% chance of a 25 basis-point rate cut and a 43% chance of a 50 basis-point decrease.

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