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News

Spot Bitcoin ETFs End 8-day Inflow Streak with $127M Outflows

August 28, 2024 - Around 2 mins mins to read

Key points:

  • Spot Bitcoin ETFs returned to net outflows after eight days of positive flows.
  • Ether ETFs saw their ninth day of total daily net outflows.
Spot Bitcoin ETFs saw $127M in net outflows on Tuesday, ending an 8-day inflow streak. Ether ETFs continued their ninth day of outflows with $3.45M in losses.
Spot Bitcoin ETFs End 8-day Inflow Streak with $127M Outflows

Spot Bitcoin ETFs End Eight-Day Inflow Streak

On Tuesday, U.S. Bitcoin Spot ETFs returned to net outflows, ending an eight-day streak of positive inflows. During the rally, these ETFs had accumulated $756 million in inflows. However, funds experienced $127 million in net outflows on Tuesday, led by Ark’s ARKB & 21Shares, which saw $101.97 million in negative inflows, according to SoSoValue data.

Grayscale’s GBTC and Bitwise’s BITB also saw outflows of $18.32 million and $6.76 million, respectively. Eight other funds, including BlackRock’s IBIT, had no activity on the day.

Read more: Bitcoin ETF Inflows Get a Boost as BTC Price Surpasses $64,000

Continued Outflows in Spot Ether ETFs

Meanwhile, spot Ether ETFs reported their ninth consecutive day of outflows, posting $3.45 million in negative inflows on Tuesday. Grayscale’s Ether Fund led the outflows with $9.18 million, while Fidelity’s FETH secured $3.88 million in inflows, followed by Bitwise’s ETHW with $1.86 million.

The trading volume of these Ether funds remains significantly lower, totalling $129.95 million, compared to the highs seen in late July. Overall, Ether ETFs have accumulated net outflows of $481.32 million.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.
News

Spot Bitcoin ETFs End 8-day Inflow Streak with $127M Outflows

Key points:

  • Spot Bitcoin ETFs returned to net outflows after eight days of positive flows.
  • Ether ETFs saw their ninth day of total daily net outflows.
Spot Bitcoin ETFs saw $127M in net outflows on Tuesday, ending an 8-day inflow streak. Ether ETFs continued their ninth day of outflows with $3.45M in losses.
Spot Bitcoin ETFs End 8-day Inflow Streak with $127M Outflows

Spot Bitcoin ETFs End Eight-Day Inflow Streak

On Tuesday, U.S. Bitcoin Spot ETFs returned to net outflows, ending an eight-day streak of positive inflows. During the rally, these ETFs had accumulated $756 million in inflows. However, funds experienced $127 million in net outflows on Tuesday, led by Ark’s ARKB & 21Shares, which saw $101.97 million in negative inflows, according to SoSoValue data.

Grayscale’s GBTC and Bitwise’s BITB also saw outflows of $18.32 million and $6.76 million, respectively. Eight other funds, including BlackRock’s IBIT, had no activity on the day.

Read more: Bitcoin ETF Inflows Get a Boost as BTC Price Surpasses $64,000

Continued Outflows in Spot Ether ETFs

Meanwhile, spot Ether ETFs reported their ninth consecutive day of outflows, posting $3.45 million in negative inflows on Tuesday. Grayscale’s Ether Fund led the outflows with $9.18 million, while Fidelity’s FETH secured $3.88 million in inflows, followed by Bitwise’s ETHW with $1.86 million.

The trading volume of these Ether funds remains significantly lower, totalling $129.95 million, compared to the highs seen in late July. Overall, Ether ETFs have accumulated net outflows of $481.32 million.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.