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U.S. spot Bitcoin ETFs see $20.45 million in net outflows amid declining trading volume. Spot Ethereum ETFs await SEC approval for potential listing.
The 11 spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced total daily net outflows of $20.45 million on Wednesday. Only two funds saw net flows, while the remaining recorded zero flows.
ETF Performance and Market Impact
Grayscale’s GBTC reported daily net outflows of $26.99 million, which were countered by $6.55 million in net inflows from Fidelity’s FBTC, according to data from SoSoValue. The other nine ETFs, including BlackRock’s IBIT, logged zero flows. The 11 bitcoin funds had around $800 million in trading volume on Wednesday, lower than Tuesday’s volume of $995 million. This recent trading volume is significantly lower than in March, when they saw daily volumes of around eight to ten billion dollars. Since their January inception, the ETFs have accumulated a total net inflow of $14.62 billion.
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The price of bitcoin dropped 3.85% in the past 24 hours to $58,696 at the time of publication, while the entire crypto market is down 2.50%, according to TradingView.
Spot Ethereum ETFs Await Approval
Meanwhile, U.S. issuers still await the final green light from the U.S. Securities and Exchange Commission (SEC) on spot Ethereum ETFs. The SEC approved 19b-4 forms for eight spot Ethereum ETFs on May 23, and issuers have filed amended S-1 registrations to the agency for review. Bloomberg ETF analyst James Seyffart said on X that spot Ether funds might be listed later next week or the week of July 15.
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