{"id":28753,"date":"2024-09-08T17:00:45","date_gmt":"2024-09-08T14:00:45","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=28753"},"modified":"2024-09-08T12:08:27","modified_gmt":"2024-09-08T09:08:27","slug":"u-s-bitcoin-and-ethereum-etfs-hit-multi-month-lows","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/u-s-bitcoin-and-ethereum-etfs-hit-multi-month-lows\/","title":{"rendered":"U.S. Bitcoin and Ethereum ETFs Hit Multi-Month Lows"},"content":{"rendered":"

The value of U.S.-based spot bitcoin and spot Ethereum exchange-traded funds<\/strong> has hit fresh multi-month lows following a negative week for the values of several crypto tokens\u2014only three of the top 50 tokens by market size gained on the week.<\/p>\n

U.S.-spot Bitcoin ETFs<\/strong> had around $170 million worth of outflows on Friday, so pushing the total cumulative value of the 12 funds on the market to $48.24 billion. worth has dropped below $50 billion for the first time in one month and has the lowest cumulative worth since May 1. Based on SoSoValue statistics<\/a>, one would have to return to the end of February to get similar values before then.<\/p>\n

While industry leader BlackRock failed to report either inflow or outflow on its IBIT fund, No. 2, Grayscale’s GBTC experienced $53 million withdrawals while Fidelity’s FBTC saw most for Friday\u2014$85 million. Bitwise’s BITB saw $14 million worth of inflows; Ark & 21Shares ARKB saw $7 million; both Grayscale’s BTC Mini Trust and Valkyrie’s BRRR registered roughly $5 million in outflows.<\/p>\n

For the spot Bitcoin funds, the daily total of about $170 million in withdrawals represents the eighth consecutive trading day of outflows.<\/p>\n

While the total asset value of spot Bitcoin funds reached multi-month lows, the comparable measure for U.S.-based exchange-traded funds trading Ether dropped to its lowest value yet recorded after $6 million in withdrawals pushed the total value owned by the funds to barely $6.09 billion. Based on SoSoValue data<\/a>, that represents a 41% decline from the funds’ total asset value on the first day of trade, $10.24 billion.<\/p>\n

Friday’s net asset value showed only two funds registered changes: Blackrock’s ETHA logged $4.7 million worth of inflows while Grayscale’s ETHE noted $10 million worth of outflows. For the Ethereum ETFs<\/strong>, the net negative day carries on a six-day pattern of negative or zero outflows. So far in September, the funds have shown an outflow of almost $91 million.<\/p>\n

 <\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for\u00a0<\/em>the latest\u00a0news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The value of U.S.-based spot bitcoin and spot Ethereum exchange-traded funds has hit fresh multi-month lows following a negative week for the values of several crypto tokens\u2014only three of the top 50 tokens by market size gained on the week. U.S.-spot Bitcoin ETFs had around $170 million worth of outflows on Friday, so pushing the<\/p>\n","protected":false},"author":6,"featured_media":21423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[61,534,105,1000],"class_list":["post-28753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-ethereum","tag-ethereum-etf"],"yoast_head":"\nU.S. Bitcoin and Ethereum ETFs Hit Multi-Month Lows - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/u-s-bitcoin-and-ethereum-etfs-hit-multi-month-lows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Bitcoin and Ethereum ETFs Hit Multi-Month Lows - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The value of U.S.-based spot bitcoin and spot Ethereum exchange-traded funds has hit fresh multi-month lows following a negative week for the values of several crypto tokens\u2014only three of the top 50 tokens by market size gained on the week. 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