Deniz 
On Tuesday, U.S. spot bitcoin exchange-traded funds continued their negative flow pattern. Data from SosoValue shows that on Tuesday, the 12 spot bitcoin ETFs reported net outflows of $287.78 million, the most negative flows since May 1. With BlackRock’s IBIT, the biggest spot bitcoin ETF by net assets, daily flow was zero.
The second-largest spot bitcoin ETF, Grayscale’s GBTC, had $50.39 million depart the fund; Fidelity’s FBTC noted the biggest outflows, at $162.26 million.
ARKB logged outflows of $33.6 million for Ark and 21 Shares; Bitwise reported net outflows of $24.96 million. Modest outflows also occurred in several other ETFs run by VanEck, Valkyrie, Invesco, and Franklin Templeton.
With Wall Street falling on Tuesday on worse than ideal ISM data in the United States, the notable withdrawals occurred during a market selloff. Up 0.4% from July, the U.S. ISM manufacturing index for August came in at 47.2%. On Tuesday, the spot bitcoin ETFs traded overall for $1.56 billion, up from $1.54 billion last Friday. Monday was a holiday, hence the American market closed.
Spot-ether ETFs in the United States also saw net outflows of $47.4 million on Tuesday, the most notable daily negative movement since August 2. With $52.31 million, the Grayscale Ethereum Trust (ETHE) was the only spot ether ETF to record withdrawals for the day. Net inflows for Fidelity’s FESH came out at $4.91 million. There were no flows at seven other spot ether ETFs. From $173.66 million last Friday, the daily trading volume of these ether ETFs fell to $163.5 million on Tuesday.
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