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US Spot Bitcoin ETFs End Eight-Day Negative Flow Streak! Here Are the Details

US Spot Bitcoin ETFs End Eight-Day Negative Flow Streak! Here Are the Details

BitcoinsistemiBitcoinsistemi2024/09/11 11:39
By:Utku Yanık

Spot Bitcoin exchange-traded funds (ETFs) in the US staged a strong recovery on Tuesday, seeing a total net inflow of $116.96 million.

Spot Bitcoin exchange-traded funds (ETFs) in the United States staged a strong recovery on Tuesday, recording a total of $116.96 million in net inflows, according to SoSoValue data. This marked the end of an eight-day streak of negative flows for the funds.

US Spot Bitcoin ETFs Rebound with $117M Daily Inflows Led by Fidelity's FBTC

Fidelity's FBTC led the inflows with $63.16 million, continuing its positive momentum from Monday.

Grayscale’s Bitcoin Mini Trust followed closely behind with $41.13 million, while Ark Invest and 21Shares’ ARKB reported $12.68 million in inflows. However, BlackRock’s IBIT and eight other funds saw no activity, with IBIT recording no inflows since Aug. 26.

Despite the inflows, the total daily trading volume of the 12 Bitcoin ETFs remained at $712.27 million, significantly below the typical $1 billion to $2 billion range.

Tuesday’s volume was the third-lowest since the funds launched, with the lowest volume occurring on Feb. 6. Since their inception, Bitcoin ETFs have collectively accumulated $17.04 billion in net inflows.

Ethereum ETFs See Net Inflows After Five-Day Streak of Outflows

Spot Ethereum ETFs in the U.S. also gained, recording their first positive inflows since Aug. 28 with $11.44 million in net inflows. Fidelity’s FETH led the group with $7.13 million in inflows, followed by BlackRock’s ETHA with $4.31 million. The remaining seven Ethereum funds recorded no inflows.

The daily trading volume of the nine Ethereum ETFs was $102.87 million, down slightly from $124.51 million on Monday. Despite Tuesday’s gains, the funds had cumulative net outflows of $562.06 million.

*This is not investment advice.

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