{"id":29048,"date":"2024-09-12T11:00:10","date_gmt":"2024-09-12T08:00:10","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=29048"},"modified":"2024-09-12T09:24:30","modified_gmt":"2024-09-12T06:24:30","slug":"spot-bitcoin-and-ether-etfs-record-significant-outflows","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/spot-bitcoin-and-ether-etfs-record-significant-outflows\/","title":{"rendered":"Spot Bitcoin and Ether ETFs Record Significant Outflows"},"content":{"rendered":"

On Wednesday, spot Bitcoin exchange-traded funds (ETFs)<\/strong> in the United States<\/strong> witnessed total daily net outflows of $43.97 million<\/strong>, therefore ending a two-day positive flow run. Based on SoSoValue statistics, Ark Invest and 21Shares’ ARKB led the withdrawals with reported withdrawal of $54.03 million.<\/p>\n

With $4.59 million in net withdrawals, Grayscale’s GBTC<\/strong> likewise suffered a large loss; its Bitcoin Mini Trust<\/strong> saw roughly $511,230 in outflows. By contrast, Fidelity’s FacebookTC led the daily net inflows with $12.57 million, followed by Invesco’s BTCO<\/strong>, with $2.59 million. Seven more Bitcoin funds\u2014BlackRock’s IBIT<\/strong> among others\u2014recorded zero daily flows; IBIT has not seen any inflows since August 26.<\/p>\n

Wednesday’s daily trading volume for the 12 Bitcoin ETFs came out to be $1.27 billion, a significant increase from $712.25 million the day before. These Bitcoin ETFs have drawn $17 billion in net inflows since their January introduction.<\/p>\n

Spot Ethereum ETFs<\/strong> also had inflows, coming to about $542,810. While Fidelity’s FESH countered with $1.17 million in inflows, VanEck’s ETHV saw $1.71 million in net withdrawals. Of the nine Ethereum ETFs, seven showed nil daily activity. Wednesday’s total trading volume for the Ether ETFs was $126.22 million, up from $102.87 million on Tuesday; cumulative net outflows for the ETFs come at $562.06 million.<\/p>\n

These outflows from Bitcoin and Ethereum ETFs are a normal reaction to better U.S. economic statistics, claims crypto analyst Rachael Lucas of BTCMarkets. With a 0.2% increase in August the U.S. consumer price index shows the 12-month inflation rate to be 2.5%, the lowest since February 2021.<\/p>\n

With an 85% chance the Federal Reserve would cut rates by 25 basis points, investors are now focusing on the Federal Open Market Committee meeting next week. CME Group’s FedWatch Tool shows.<\/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 <\/span><\/i>Telegram, <\/span><\/i><\/a>YouTube<\/span><\/i><\/a>, and <\/span><\/i>Twitter<\/span><\/i><\/a> channels for the latest <\/span><\/i>news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, spot Bitcoin exchange-traded funds (ETFs) in the United States witnessed total daily net outflows of $43.97 million, therefore ending a two-day positive flow run. Based on SoSoValue statistics, Ark Invest and 21Shares’ ARKB led the withdrawals with reported withdrawal of $54.03 million. With $4.59 million in net withdrawals, Grayscale’s GBTC likewise suffered a<\/p>\n","protected":false},"author":6,"featured_media":21423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[534,5733,8565,5113],"class_list":["post-29048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-bitcoin-etf","tag-blackrock-ibit","tag-ethereum-etfi-grayscale-gbtc","tag-fbtc"],"yoast_head":"\nSpot Bitcoin and Ether ETFs Record Significant Outflows - 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\/spot-bitcoin-and-ether-etfs-record-significant-outflows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spot Bitcoin and Ether ETFs Record Significant Outflows - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"On Wednesday, spot Bitcoin exchange-traded funds (ETFs) in the United States witnessed total daily net outflows of $43.97 million, therefore ending a two-day positive flow run. 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