Spot Bitcoin exchange-traded funds (ETFs) in the U.S. experienced a notable net outflow of $43.97 million on Wednesday, breaking a two-day positive inflow streak. These outflows are a consequence of investor responses to recent U.S. economic data, reflecting the persistent volatility in the crypto ETF market.
Major Outflows in Spot Bitcoin ETFs
Data from SoSoValue reveals that the ARKB fund by Ark Invest and 21Shares saw the largest outflow among ETFs, with a net withdrawal of $54.03 million. Grayscale’s GBTC also experienced significant outflows, with investors pulling out a net $4.59 million, while the Grayscale Bitcoin Mini Trust reported a net outflow of approximately $511,230. Contrarily, Fidelity’s FBTC led with a net inflow of $12.57 million, followed by Invesco’s BTCO with a $2.59 million net inflow. Seven other funds, including BlackRock’s IBIT, reported neither inflows nor outflows, with IBIT not seeing a net inflow since August 26, indicating a more cautious investor sentiment.
On Tuesday, 12 spot Bitcoin ETFs recorded a significant trading volume of $1.27 billion, up from $712.25 million the previous day. Despite these outflows, Bitcoin funds have accumulated a total net inflow of $17 billion since their launch in January, highlighting a sustained interest in digital assets despite short-term fluctuations.
Spot Ethereum ETFs Also Facing Outflows
Spot Ethereum ETFs recorded a net outflow of approximately $542,870, with seven out of nine funds reporting neither inflows nor outflows. VanEck’s ETHV witnessed a net outflow of $171,000, while Fidelity’s FETH was the only fund in the category to see positive activity, with a net inflow of $1.17 million. The total trading volume for spot Ethereum ETFs rose from $102.87 million on Tuesday to $126.22 million on Wednesday. However, cumulative net outflows for Ethereum-based ETFs amounted to $562.06 million, indicating a challenging environment for these funds.
Key Insights from Recent ETF Movements
The recent movements in U.S. spot Bitcoin and Ethereum ETFs reveal several key insights:
- ARKB fund by Ark Invest and 21Shares saw the largest Bitcoin ETF outflow.
- Fidelity’s FBTC emerged as the leader in Bitcoin ETF inflows.
- VanEck’s ETHV experienced the most significant outflow among Ethereum ETFs.
- Fidelity’s FETH was the only Ethereum ETF with a net inflow.
- Cumulative net inflows since January indicate enduring interest in digital assets.
These patterns suggest that while short-term fluctuations persist, the overall interest in digital asset ETFs remains strong, driven by both cautious and opportunistic investor behaviors.
