- Tuesday saw a decline in U.S. spot bitcoin exchange-traded funds (ETFs), with $77.97 million leaving the market, ending a 12-day run of inflows.
- The recently introduced spot ether ETF cousins, however, outperformed them.
Blackrock’s IBIT Gains $71M, while Three Bitcoin ETFs See Outflows
After record-breaking inflows for 12 straight days and a $533.57 million inflow on Monday, U.S. spot bitcoin ETFs saw a decline on July 23. Sosovalue.xyz reports that about $77.97 million left the funds, with three of the 11 funds posting losses on Tuesday.
Throughout the day’s trading session, Blackrock’s IBIT attracted $71.94 million, making it the only gainer. $70.32 million left Bitwise’s BITB, and $52.29 million left Ark Invest’s and 21shares’ ARKB.
Not to mention, Grayscale’s GBTC lost $27.31 million on Tuesday. All of the funds—FBTC, HODL, BRRR, BTCO, EZBC, BTCW, and DEFI—saw no changes in value during the course of the day.
The 11 ETFs’ cumulative total net inflow drops to $17.46 billion with the $77.97 million outflow. Tuesday saw trading of over $2.34 billion, and 11 funds own $59.97 billion worth of bitcoins in total, which represents about 4.62% of the market valuation of BTC.
On the first day of spot ETH trading on Tuesday, however, the nine ether ETFs did better, gaining almost $106 million.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
