Bitcoin ETFs in the United States have been experiencing a trend of outflows for the past three days, totaling $361.2 million in withdrawals. The data from SoSoValue shows that on October 3, 12 U.S.-listed spot Bitcoin ETFs saw net outflows of $54.13 million, following a previous day’s withdrawal of $91.76 million.
Among these ETFs, ARK 21Shares’ ARKB fund had the highest outflows at $57.97 million, marking its fourth consecutive day of declines. Fidelity’s FBTC also saw significant outflows of $37.21 million, despite having some positive inflows earlier in the week. On the other hand, BlackRock’s IBIT, the largest spot Bitcoin ETF, had inflows of $35.96 million, bringing its total net assets to $21.5 billion since launch.
Bitwise’s BITB and Invesco’s BTCO had modest inflows of $2.65 million and $2.44 million, respectively, while the rest of the Bitcoin ETFs remained neutral. Despite the recent outflows, these funds have collectively attracted a net inflow of $18.47 billion since their inception. Bitcoin was trading at $61,213 at the time of reporting.
In addition to Bitcoin ETFs, U.S. spot Ethereum ETFs also experienced net daily outflows of $3.2 million. Grayscale’s ETHE had the highest outflows at $14.69 million, followed by Fidelity’s FETH with $587,090 in outflows. However, BlackRock’s Ethereum Trust ETHA had net inflows of $12.08 million, offsetting some of the losses. The remaining spot Ether ETFs stayed static for the day.
Trading volumes for Ether ETFs also decreased, with the nine funds recording $115.66 million in volume on October 3, down from $197.82 million the day before. Since their launch in July, these ETFs have accumulated net outflows of $561.05 million. Ethereum was trading at $2,381 at press time.
Despite the outflows in both Bitcoin and Ethereum ETFs, it is important to note that BlackRock’s IBIT and ETHA had inflows, indicating that there is still some investor interest in these assets. The overall trend of outflows may be a temporary phenomenon influenced by market conditions and investor sentiment. It will be interesting to see how these ETFs perform in the coming days and whether the outflows continue or if there is a shift towards inflows once again.
