Deniz 
After reporting negative flows the day before, spot bitcoin exchange-traded funds in the U.S. observed daily net inflows of $39.02 million on Thursday.
Based on SoSoValue statistics, ARKB from Ark and 21Shares had the biggest net inflows—$18.34 million moved into the fund yesterday. While Grayscale’s Bitcoin Mini Trust attracted $5.18 million, Fidelity’s FacebookTC noted net inflows of $11.47 million.
Franklin Templeton’s bitcoin fund had $3.38 million in inflows, while VanEck’s HODL witnessed smaller flows of $4.95 million. Bitwise’s BITB likewise noted $2.22 million in favorable flows.
With 6.51 million withdrawals, Grayscale’s GBTC was the only spot bitcoin ETF noted to have outflows. Thursday’s flows for the remaining five bitcoin ETFs—BlackRock’s IBIT included—were zero. With net assets at the highest spot among bitcoin ETFs, IBIT has not seen net flows since Aug. 27.
Thursday’s daily trading volume of $896.92 million for the 12 bitcoin ETFs dropped from $1.27 billion the day before. Launched in January, the bitcoin funds have accumulated net inflows of $17.03 billion.
With their second consecutive net outflow day, spot Ethereum ETFs in the United States recorded $20.14 million in net outflows. Grayscale’s ETHE generated the whole daily net outflows; the eight other ether funds had zero flows on Thursday.
Comparatively to Wednesday’s $126.22 million, the total daily trading volume of the ether ETFs yesterday was $106.14 million. Their net outflows taken all together came to $582.74 million.
The price of bitcoin stays about $58,000 in the meantime. The biggest cryptocurrency in the world dropped 0.6% to trade right now for about $57,916. After the U.S. published poor non-farm payroll data last Friday, bitcoin fell to lows of under $53,000, but it has since recovered on the back of the election debate between Kamala Harris and Donald Trump as well as Wednesday’s consumer price data release.
Investors now anticipate the Federal Open Market Committee meeting next week. With a 57% probability that the Fed will cut rates by 25 basis points using CME Group’s FedWatch Tool and a 43% possibility to a 50 basis-point drop.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.