Join Our Telegram channel to stay up to date on breaking news coverage
US spot Bitcoin ETFs (exchange-traded funds) recorded their worst net outflows yesterday since Sept. 3 after $242.6 million left the investment products.
That brought an end to their 8-day streak of inflows, according to data from SoSoValue. This comes after BTC shed up to 6% of its value amid growing geopolitical tensions in the Middle East after Iran fired ballistic missiles at Israel.
BlackRock’s IBIT The Only Fund Among The 12 US Spot Bitcoin ETFs To Log Inflows
Despite the broader sell-off, BlackRock’s IBIT ETF stood out as the only fund to record positive inflows, with $40.84 million added during the trading session.
Fidelity’s FBTC suffered the largest net outflows during Tuesday’s trading session, with investors pulling $144.67 million out of the fund. ARKB, the spot Bitcoin ETF belonging to Ark and 21Shares, recorded the second highest net outflows and its worst outflows since Aug. 27 after $84.35 million left its reserves.
The funds belonging to Bitwise, VanEck and Grayscale all registered net outflows yesterday. Investors withdrew $32.7 million from Bitwise’s BITB, while VanEck’s spot Bitcoin ETF suffered $15.75 million net outflows. Meanwhile, $5.9 million left Grayscale’s GBTC.
Fidelity’s Spot Ethereum ETF Sets New Daily Net Outflows Record
In addition to its spot Bitcoin ETF recording the highest outflows of the 12 funds yesterday, Fidelity’s Ethereum Fund (FETH) also set a new all-time high in daily outflows.
Data from Farside Investors shows that $25 million flowed out of FETH on Oct. 1. This is the highest daily outflows recorded among all of the US spot ETH ETFs, excluding Grayscale’s ETHE.
Ethereum ETF Flow (US$ million) – 2024-10-01
TOTAL NET FLOW: -48.6
ETHA: 0
FETH: -25
ETHW: -0.9
CETH: 1.2
ETHV: 2.7
QETH: 0
EZET: 0
ETHE: -26.6
ETH: 0For all the data & disclaimers visit:https://t.co/FppgUwAthD
— Farside Investors (@FarsideUK) October 2, 2024
Collectively, the funds followed a similar flow trend to that experienced by their Bitcoin counterparts, with $48.6 million outflows recorded across the 9 issuers.
Related Articles:
- Best Wallet Unveils ‘Upcoming Tokens’ Feature For Easy Access To New Crypto Presales
- Controversy Erupts As Ethereum’s Vitalik Buterin Defends Hezbollah Betting Markets On Polymarket
- Degen Price Prediction: DEGEN Surges 98%, But Experts Say Consider This Vote-To-Earn Meme Coin For 100X Gains
Most Searched Crypto Launch - Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $10+ Million Raised at ICO - Ends Soon
Join Our Telegram channel to stay up to date on breaking news coverage