US spot bitcoin ETFs see third straight day of outflows with $54 million exiting

Spot bitcoin exchange-traded funds in the U.S. reported net outflows of $54.13 million on Thursday. This marks their third consecutive day of negative flows, bringing the three-day cumulative outflows to over $388 million during this period. 

The pack of outflows was led by Ark Invest and 21Shares’ ARKB, which recorded $57.97 million in net outflows, according to data from SoSoValue. Fidelity’s FBTC also saw $37.21 million in net outflows yesterday.

Meanwhile, BlackRock’s IBIT led inflows with $35.96 million on Thursday. Bitwise’s BITB saw net inflows of $2.65 million, followed by $2.44 million into Invesco’s BTCO. The remaining seven funds, including Grayscale’s GBTC, reported zero flows for the day.

On Thursday, spot bitcoin ETFs recorded a total daily trading volume of $1.13 billion, down from $1.66 billion the day before. The funds have accumulated total net inflows of $18.47 billion since launching in January.

Ether ETFs experienced outflows

U.S. spot Ethereum ETH -0.78% ETFs reported total daily net outflows of $3.2 million. Grayscale’s ETHE logged $14.69 million in net outflows, while around $587,090 exited Fidelity’s FETH.

The outflows were partially offset by $12.08 million in net inflows into BlackRock’s ETHA. The six other spot ether ETFs saw zero flows for the day.

The nine ether ETFs recorded $115.66 million in daily trading volume on Thursday, down from $197.82 million on Wednesday. Since launching in July, the funds have accumulated net outflows of $561.05 million.

According to The Block’s crypto price page , Bitcoin BTC -0.34% ’s price dropped 0.85% in the past 24 hours to trade at $60,959, while ether dipped 1.38% to $2,366.