- On Friday, US spot bitcoin ETFs had a daily net outflow of $237 million, which is the greatest level of outflow for a single day since May 1 and the fourth highest since the ETFs’ January inception.
- Even while the overall outflow level was usually lower than it has been in recent days, spot ether ETFs saw withdrawals as well.
On Friday, August 2, the US’s 12 bitcoin exchange-traded funds saw their largest one-day withdrawal since May 1, which was more than 90 days ago (and more than 60 trading days) ago.
SoSoValue data shows that on August 2, there was a $237.45 million total daily outflow, the most since May 1’s $563.77 million outflows and the fourth highest single-day outflow since the spot bitcoin ETFs were introduced in January.
Just two ETFs saw inflows, with Grayscale’s newly established Bitcoin Mini Trust (BTC -10.83%) bringing in a meager $9.88 million in fresh capital. The second good ETF was BlackRock’s IBIT, which had inflows of around $43 million.
Nevertheless, these inflows were less than half of the withdrawals from Bitwise’s BITB, VanEck’s HODL, and Grayscale’s GBTC, as well as outflows of over $100 million from Fidelity’s FBTC, over $81 million from Ark Invest, and 21Shares’ ARKB. The five remaining funds showed no variations.
Even with the significant outflow on a single day, the overall volume traded was scarcely abnormal, and the combined net asset value of all the ETFs is still quite close to all-time highs, despite the fact that the price of bitcoin has continued to decline toward $60,000.
Ether ETFs saw slight withdrawals
According to SoSoValue statistics, the $54 million outflow from the nine spot ether ETFs that are now trading on the US market on Friday was actually the lowest level of outflows in a single day in the short time that these funds have been available.
The total net assets held in the funds, however, have dropped significantly from the peak of $10.24 billion reached on the first day of trading to an all-time low of $8.33 billion. Grayscale’s ETHE, which has the biggest net asset value among spot ether ETFs at $6 billion, accounted for the majority of the outflows, totaling $61 million.
At $438 million, the total volume traded across the ether ETFs on Friday was also the lowest on record, a far cry from the $2.34 billion transacted on the bitcoin ETF side.
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.
