A net outflow of $237.4 million was seen in the 11-spot Bitcoin ETFs in the US at the end of trade. This is the most substantial money that has been taken out of these investment goods since early May, when $563.8 million was taken out.
The Fidelity Wise Origin Bitcoin Fund (FBTC) lost the most money, with $104.1 million leaving the fund. After this, $87.7 million left Ark and 21Shares’ ARKB. Grayscale’s GBTC kept going down, with losses of $45.9 million. Bitwise’s BITB and VanEck’s HODL also had outflows of $29.4 million and $23 million, respectively.
BlackRock and Grayscale Inflows
On the other hand, only BlackRock’s IBIT and Grayscale’s brand-new Grayscale Bitcoin Mini Trust saw money come into them, bringing in $42.8 million and $9.9 million, respectively. The rest of the BTC ETFs stayed the same, not drastically rising or falling.
Overall, spot BTC ETFs had a bad end to the week, with about $80.68 million in withdrawals.
SoSoValue data shows that the total daily trade volume for these financial instruments was $2.34 billion on Friday. This is less than the $2.91 billion that was recorded on Thursday, but a lot more than the $1.37 billion that was recorded on Wednesday.
In the United States, there are nine Ethereum ETFs. On August 2, $54.3 million was taken out of these ETFs, with $61.4 million leaving Grayscale’s ETHE as the one who loses Fidelity’s FETH and Franklin’s EZET as the only ETFs to report money coming in. FETH got $6 million and EZET got $1.1 million. Even though these funds came in, they weren’t enough to cancel out ETHE’s outflows, and the other Ether ETFs showed no net flow.
Withdrawals of $169.4 million worth of ETH ETFs over the last five trading days have made the past week tough for them.
SoSoValue says that the total amount of money that was traded in spot Ethereum ETFs on Friday was $438.61 million. This amount was more than the $331.11 million recorded on Thursday but less than the $472.5 million reported on Wednesday.
On August 2, spot BTC and ETH ETFs both lost money. This was very different from August 1, when both types of ETFs saw combined positive gains for the first time since July 23, when the nine spot Ether ETFs were launched.
CoinGecko says that these recent withdrawals happened at the same time that the global cryptocurrency market cap fell 4.5% in the last 24 hours. The price of Bitcoin dropped by 4.4% and is now worth $62,000. The price of Ethereum fell by 5% and is now worth about $3,000.
