Bitcoin ETFs lose $242M while Ethereum follows with $48M exit
U.S. spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) faced significant losses on Tuesday, with $242.53 million exiting after Bitcoin’s value dropped.
Similarly, Ethereum-focused (CRYPTO:ETH) ETFs saw a loss of $48.52 million.
According to data from sosovalue.xyz, Fidelity’s FBTC led the outflows for Bitcoin ETFs with a $144.67 million exit.
Other notable losses included ARKB with $84.35 million and Grayscale’s GBTC, which saw $5.9 million withdrawn.
Meanwhile, BlackRock’s IBIT gained $40.84 million, offering a bright spot in the otherwise tough trading day.
Despite these outflows, the 12 U.S. spot Bitcoin ETFs still hold a combined inflow of $18.62 billion, representing 4.77% of Bitcoin’s market capitalization.
Ethereum ETFs also struggled, with Grayscale’s ETHE losing $26.64 million, followed by Fidelity’s FETH, which dropped $24.97 million.
Bitwise’s ETHW recorded a $895,650 loss.
However, Vaneck’s ETHV and 21Shares’ CETH saw modest gains, bringing in $2.74 million and $1.25 million, respectively.
Tuesday’s results pushed the total outflows for Ethereum ETFs to $572.31 million since July 23, with the funds now holding $6.81 billion in Ethereum reserves, which make up 2.31% of Ethereum’s total market value.
Trading volumes for the day reached $2.53 billion for Bitcoin ETFs and $290.81 million for Ethereum ETFs.
At the time of reporting, the Bitcoin price was $60,849.30, while the Ethereum price was $2,377.20.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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