Bitcoin ETFs Drop in Outflows Again as Ether Funds Extend Streak

U.S. spot bitcoin ETFs lost a net $85 million on Wednesday, ending a three-day inflow streak that had raised roughly $509 million, according to data from SoSoValue. Ether ETFs raised around $70 million on the same day, a fifth consecutive session of inflows.

The outflow of bitcoins was broad. BlackRock’s IBIT lost about $59 million, Grayscale’s GBTC lost nearly $64 million, and Fidelity’s FBTC lost about $15 million.

Grayscale’s BTC mini fund was the only one in the green with almost $53 million. Total bitcoin ETF assets fell to around $75 billion.

The aether flows came from a narrower base but still pointed in the same direction. Fidelity’s FETH led with about $69 million, VanEck’s ETHV added just over $1 million, and all other funds were flat. ETF ETF assets amount to about $9 billion.

The division coincides with the price tape. Bitcoin traded near $62,300 and ether near $1,740, both down around 3% on the day, although ether has outperformed over the past two weeks as the Lean Ethereum roadmap and returning ETF demand gave it a story that bitcoin lacks.

Leave a Comment

Your email address will not be published. Required fields are marked *