On Wednesday, U.S. Bitcoin exchange traded funds (ETFs) saw net outflows totaling $37.2 million, the sixth consecutive day of negative flows.
Grayscale’s GBTC, the second-largest spot Bitcoin ETF by net asset size, led the outflows with $34.2 million leaving the fund.
Other notable outflows came from Fidelity’s FBTC with $7.6 million and VanEck’s HODL, which lost $4.9 million.
Bitwise’s BITB was the only Bitcoin ETF to record net inflows, bringing in $9.5 million.
BlackRock’s IBIT, the largest spot Bitcoin ETF, and seven other funds saw no activity on the day.
Spot Ethereum ETFs also faced outflows, with net outflows totaling $37.5 million, continuing a two-day streak of outflows.
Grayscale’s ETHE led the way with $40.63 million, while its Ethereum Mini Trust (ETH) saw $3.1 million in inflows. The other 7 Ethereum ETFs saw no activity.
Louisiana has become the latest U.S. state to accept cryptocurrency payments for state services.
CryptoQuant, a prominent market research firm, has observed a notable decline in the supply of short-term holders (STH) of Bitcoin (BTC), which may hinder the cryptocurrency’s potential price surge.
U.S. Congressman Warren Davidson has vocally criticized SEC Chair Gary Gensler, accusing the SEC of deliberately hindering Bitcoin ownership.
Michael Saylor’s MicroStrategy continues to expand its Bitcoin reserves, showing their undeniable optimism for the crypto market bull run.