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U.S. Bitcoin and Ethereum ETFs See Significant Outflows as Trading Volume Rises

09.10.2024 12:00 1 min. read Alexander Stefanov
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U.S. Bitcoin and Ethereum ETFs See Significant Outflows as Trading Volume Rises

After two consecutive days of positive inflows, U.S. spot Bitcoin ETFs saw net outflows of $18.66 million on Tuesday.

Fidelity’s FBTC led the withdrawals, with $48.82 million leaving the fund, according to data from Farside.

Grayscale’s GBTC, the second-largest Bitcoin ETF by assets, also experienced $9.41 million in outflows after a day of no activity.

In contrast, BlackRock’s IBIT, the largest Bitcoin ETF, managed to attract $39.57 million in inflows, while the remaining nine ETFs reported no movement. The overall trading volume for these 12 funds rose to $1.35 billion on Tuesday, up from $1.22 billion on Monday.

Ethereum ETFs also recorded net outflows, with $8.19 million withdrawn after a quiet Monday. Bitwise’s ETHW fund saw the biggest outflows at $4.54 million, followed by Fidelity’s FETH, which lost $3.65 million.

The remaining seven ether ETFs showed no movement, and their total trading volume dropped to $102.37 million from Monday’s $118.43 million.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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