U.S. Bitcoin ETFs Face $127 Million in Outflows, Ending Positive Streak
28.08.2024 16:30 1 min. read Alexander Stefanov
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.
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