crypto.news
Spot Bitcoin exchange-traded funds in the United States experienced their third consecutive day of net outflows, while spot Ethereum ETFs also saw a return to negative flows.
According to data from SoSoValue, the 12 spot bitcoin exchange-traded funds recorded $71.73 million in net outflows on Aug. 29, marking the third consecutive day of outflows.
FIdelity’s FBTC led the lot, logging $31.1 million in outflows on the day — its highest recorded outflows since Aug. 6. Grayscale’s GBTC continued its outflow streak, with $22.7 million leaving the fund, pushing its total outflows to date to $19.78 billion.
BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, recorded its first net outflows since May 1, amounting to $13.5 million. Despite this, the fund’s total net inflows remain at $20.91 billion.
Other funds, such as Bitwise’s BITB and Valkyrie’s BRRR, saw outflows of $8.1 million and $1.7 million, respectively. Ark and 21Shares’ ARKB was the only spot Bitcoin ETF to report net inflows, bringing in $5.3 million.
The total daily trading volume for the 12 spot Bitcoin ETFs dropped to $1.64 billion on Aug. 29, down from $2.18 billion the previous day. At the time of writing, Bitcoin ($BTC) was down 0.4% over the past day, trading at $59,342 per data from crypto.news.
Meanwhile, the spot Ethereum ETFs in the U.S. returned to negative flows, recording $1.77 million in net outflows on Aug. 29, following modest inflows of $5.84 million the day before.
Grayscale’s ETHE was the only spot Ethereum ETF to report outflows, losing $5.3 million, which was partially offset by $3.6 million in net inflows into the Grayscale Ethereum Mini Trust. The remaining seven spot Ether ETFs saw no activity on that day.
The total trading volume for the nine $ETH ETFs fell to $95.91 million on Aug. 29 from $151.57 million on Aug. 28. At the time of publication, Ethereum ($ETH) was also up 0.9%, exchanging hands at $2,529.