Spot Bitcoin ETFs see $52.7m outflows led by ARK 21Shares

Spot Bitcoin exchange-traded funds in the US recorded net outflows of $52.83 million on September 18, ending a four-day streak of net inflows of over $500 million.

According to data from SoSoValue, outflows from these ETFs were led by ARK 21Shares’ ARKB, which saw $43.4 million in outflows from its fund. Grayscale’s GBTC and Bitwise’s BITB reported additional outflows of $8.1 million and $3.9 million, respectively.

Grayscale Bitcoin Mini Trust was the only spot BTC fund to see inflows during the day, bringing in $2.7 million. The remaining eight spot BTC ETFs, including BlackRock’s IBIT, were neutral on the day.

Total trading volume for these investment products fell 28% from $2.27 billion on September 17 to $1.63 billion yesterday. These funds have recorded cumulative net inflows of $17.44 billion since inception.

Meanwhile, Bitcoin (BTC) is up 3% in the last 24 hours to $62,109 at press time, according to price data from crypto.news. This price action follows the Federal Open Market Committee’s decision to cut interest rates by 50 basis points. Easing monetary policy usually increases demand for risk assets, sending Bitcoin into an uptrend.

Spot ETher ETFs post third consecutive day of gains

Meanwhile, nine U.S.-based spot Ethereum ETFs experienced net outflows of $9.74 million on Sept. 18, continuing their third daily outflow streak. All daily net outflows originated from Grayscale’s ETHE, which saw $14.7 million flow through its fund.

These outflows were partially offset by BlackRock’s ETHA, which recorded $4.9 million in inflows on the day. The remaining seven ETH ETFs remained neutral.

Trading volume for these investment instruments jumped to $221.88 million from $176.26 million seen the previous day. Spot Ether ETFs have seen cumulative net outflows of $615.58 million year to date. At press time, Ethereum (ETH) was up 4.8% and trading at $2,438.