This Tuesday, spot Bitcoin ETFs in the United States recorded a 5th consecutive day of decline and the largest outflow of capital since May.
US Spot Bitcoin ETFs See Largest Outflows Since May
This Tuesday saw the highest outflow since May for Bitcoin spot ETFs in the United States.. Indeed, with $288 million net outflowsalmost all US ETFs saw outflows.
The largest of these ETFs, BlackRockās IBIT with $20.7 billion in assets under management, posted a zero result for the day. The same was true for Grayscaleās āBTCā ETF, Wisdom Treeās BTCW and Hashdexās DEFI.
š Further Reading – Bitcoin Spot ETFs Explained: Everything You Need to Know
Fidelity's FBTC recorded the largest outflow of the day with $162 million net outflows. Grayscale's GBTC meanwhile recorded $50 million in outflow.
The ARKB and BITB ETFs respectively recorded $34 million and $25 million net outflowsThe remaining 4 ETFs recorded, between them, over $16 million in net outflows.
Net outflows on Tuesday on BTC spot ETFs in the United States
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5th Consecutive Day of Net Outflows on US Spot Bitcoin ETFs
This Tuesday not only saw the highest net outflow since May but also 5th Consecutive Day of Outflows for US Spot Bitcoin ETFsThis is an unprecedented situation for 2 months.
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In total, these are therefore $767 million in net outflows to be recorded over the last 5 trading days.
Daily volumes on BTC spot ETFs in the United States
The price of BTC has suffered a 4% drop in the last 24 hours, and is currently around $56,500 at the time of writing.
Although the launch of Ethereum spot ETFs in the United States had generated palpable excitement in the crypto community, they are now struggling to find similar adoption to Bitcoin spot ETFs.
On Tuesday, spot Ether ETFs in the United States recorded the highest outflow since the beginning of August.
Grayscale's ETHE, the largest Ether ETF with $4.7 billion in assets under management, recorded $52 million net outflows.
Fidelity's FETH, for its part, recorded a net inflow of $5 million. None of the other ETFs saw net inflows or outflows during Tuesday's trading day.
The price of Ether has suffered a 4% drop in the last 24 hours, and is currently hovering around $2,400.
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Source: SoSoValue
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Passionate about the blockchain ecosystem, I like to deepen my knowledge and share my discoveries. In a perpetual quest to learn more about cryptos, I recently joined the Cryptoast Research team where I provide weekly fundamental analysis.
Theo Zananiri
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