Spot Bitcoin ETFs See Second Consecutive Outflow Day in the US, While Ether Breaks 9-Day Outflow Streak

According to data from SoSoValue, the 12 spot Bitcoin ETFs logged net outflows of $105.19 million, led by ARK 21Shares ARKB for the second consecutive day

United States spot Bitcoin exchange-traded funds saw their second consecutive day of outflows on Aug. 28, while spot Ethereum ETFs ended their nine-day outflow streak.

The 12 spot Bitcoin ETFs saw net outflows of $105.19 million on Monday, data from SoSoValue shows. ARK 21Shares ARKB led the outflows for the second consecutive day with $59.3 million in outflows from the fund. The investment product saw an even larger outflow the previous day at $102 million.

Fidelity’s FBTC reported net outflows of $10.4 million, while VanEck’s HODL saw $10.1 million in outflows. Bitwise’s BITB and Grayscale Bitcoin Mini Trust also saw negative flows of $8.7 million and $8.8 million, respectively.

Grayscale’s GBTC saw the smallest outflows of $8 million for the day — its lowest withdrawal since mid-July. However, its total outflows to date have amounted to $19.75 billion.

According to Coinglass data, Grayscale has seen more than 60% of its Bitcoin holdings in the GBTC eaten away since the fund was converted into an ETF. Once the largest Bitcoin ETF, the fund has now been outpaced by BlackRock’s IBIT, which became the top fund just five months after its launch. IBIT continues to dominate the Bitcoin ETF market, holding about 357,736 BTC, valued at around $22.2 billion.

The remaining six BTC ETFs remained neutral for the day, marking the second consecutive day without inflows for Bitcoin ETFs.

At the time of writing, Bitcoin (BTC) was up 0.3% over the past 24 hours, trading at $59,640, according to crypto.news data.

Spot Ether ETFs break 9-day outflow streak

The nine-spot Ethereum ETFs, on the other hand, saw collective inflows of $5.84 million on Aug. 28, breaking a streak of nine consecutive days of outflows.

BlackRock’s ETHA and Fidelity’s FETH were the only funds to report inflows at $8.4 million and $1.3 million, respectively, for the day. The inflows were partially offset by outflows from Grayscale’s ETHE, which saw outflows of $3.8 million, bringing its total outflows since its launch date to $2.55 billion.

The investment vehicles also saw their daily trading volume increase on Aug. 28 to $151.5 million, up from the previous day. The spot Ether ETFs have seen a cumulative net outflow of $475.48 million to date. At the time of publication, Ethereum (ETH) was also up by 3.5%, changing hands at $2,544.

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