Spot Bitcoin ETFs in the U.S. See a Jump in Net Positive Flows, While Ether ETFs Outflows Slow Down

According to data from SoSoValue, the 12 spot Bitcoin ETFs logged outflows of $211.15 million on Sep. 5

Spot Bitcoin exchange-traded funds in the U.S. saw a significant jump in net outflows on Monday, while ether ETFs saw smaller outflows that slowed down from the previous day.

The 12 spot Bitcoin ETFs saw outflows of $211.15 million on Monday, a surge of over six times compared to the $37.29 million outflows recorded the previous day, data from SoSoValue shows.

Fidelity’s FBTC led the lot with $149.5 million leaving the fund. Biwise’s BITB, Grayscale’s GBTC, and Grayscale Bitcoin Mini Trust followed with recorded outflows of $30 million, $23.2 million, and $8.4 million, respectively.

Notably, Fidelity’s FBTC also saw the largest outflows over the last seven days, with $374 million withdrawn, surpassing the $227 million in outflows from Grayscale’s GBTC.

The largest spot BTC fund, BlackRock’s IBIT, with over $20.91 billion in total inflows, remained neutral on the day, along with the eight remaining BTC ETFs.

Total daily trading volume for the 12 spot Bitcoin ETFs dropped to $1.35 billion on Monday, down from $1.41 billion the previous day. At the time of writing, Bitcoin (BTC) was down 0.9% over the past day, trading at $56,327 per data from crypto.news.

Bitcoin’s price retreat happened as a sense of fear spread in the crypto industry. The closely watched crypto fear and greed index dropped to the extreme fear zone of 22, its lowest level in over a month, per data from Alternative. This fear is likely driven by ongoing concerns about a potential U.S. recession following a string of weak economic data.

Moreover, institutional demand for Bitcoin has weakened, with spot Bitcoin ETFs seeing outflows for seven consecutive trading days, shedding over $1 billion since Aug. 27.

Meanwhile, the nine spot Ether ETFs also showed bearish trends but with significantly smaller net outflows of $152.72K on Aug. 5 compared to the previous day, according to SoSoValue. Grayscale’s ETHE recorded $7.4 million in outflows, while the Grayscale Ethereum Mini Trust nearly offset this with $7.2 million in inflows.

The remaining seven spot ETH funds saw no activity on the day.

The total trading volume for the nine Ether ETFs fell to $108.59 million on Monday from $145.86 million on Sep. 4. At the time of publication, Ethereum’s (ETH) price dipped by 0.9%, exchanging hands at $2,378.

Ethereum’s fear and greed index also fell, reaching the fear zone of 34, reflecting growing uncertainty and cautious sentiment among investors in the market.

The above is the detailed content of Spot Bitcoin ETFs in the U.S. See a Jump in Net Positive Flows, While Ether ETFs Outflows Slow Down. For more information, please follow other related articles on the PHP Chinese website!