U.S. spot Bitcoin exchange traded funds saw net outflows on Tuesday, ending an eight-day streak of positive results, according to Farside.
On Tuesday (Aug. 27), those funds recorded net outflows totaling $127.1 million, led by Ark & 21Shares’ ARKB fund, which reported outflows of $102 million.
Grayscale’s GBTC also saw outflows of $18.3 million, while Bitwise’s BITB lost $6.76 million. Valkyrie’s BRRR was not updated and eight funds, including BlackRock’s IBIT, reported zero outflows.
Despite the recent outflows, total trading volume for U.S. spot Bitcoin ETFs, excluding BRRR, was $1.2 billion on Tuesday. Since January, these funds have accumulated net inflows of $17.95 billion.
Spot Ethereum ETFs continued the trend of net outflows for the ninth consecutive day, with negative inflows of $3.45 million on Tuesday.
Grayscale’s fund saw significant outflows of $9.18 million, partially offset by inflows of $3.88 million in Fidelity’s FETH and $1.86 million in Bitwise’s ETHW.
Coinbase has officially rolled out CFTC-regulated futures contracts tied to XRP, marking a significant step forward for institutional adoption of the Ripple-associated token.
A fresh wave of speculation has hit the crypto market following a hefty stablecoin issuance by Tether, which quietly minted $1 billion worth of USDT on the Tron network earlier today.
Binance is adding more firepower to its Spot trading platform, announcing fresh USDC trading pairs and expanded support for auto-trading features set to go live on April 22.
Tokyo-based Metaplanet has continued its aggressive Bitcoin strategy, now holding over $400 million in BTC following its latest acquisition.