Fidelity’s FBTC lead $71.73m Bitcoin ETF outflows, Ether ETFs also slide

Spot Bitcoin exchange-traded funds in the US experienced net outflows for the third day in a row, while spot Ethereum ETFs also returned to negative flows.

According to SoSoValue data, 12 spot Bitcoin exchange-traded funds recorded net outflows of $71.73 million on August 29, the third consecutive day of outflows.

FIdelity’s FBTC led the way with $31.1 million in outflows for the day, the most since August 6. Grayscale’s GBTC continued its streak, with $22.7 million exiting the fund, bringing its total outflows to date to $19.78 billion.

Spot Bitcoin ETFs in/out | Source: SoSoValue

BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, recorded its first net outflow since May 1, reaching $13.5 million. However, the fund’s total net inflows remained at $20.91 billion.

Other funds like Bitwise’s BITB and Valkyrie’s BRRR saw outflows of $8.1 million and $1.7 million respectively. Ark and 21Shares’ ARKB were the only Bitcoin ETFs to report net inflows, bringing in $5.3 million.

The total daily trading volume of 12 spot Bitcoin ETFs fell to $1.64 billion on Aug. 29 from $2.18 billion the day before. At press time, Bitcoin (BTC) was trading at $59,342, down 0.4% in the past day, according to crypto.news data.

Meanwhile, spot Ethereum ETFs in the US returned to negative flows, recording net outflows of $1.77 million on August 29, following modest inflows of $5.84 million the day before.

Grayscale’s ETHE was the only spot Ethereum ETF to report outflows, losing $5.3 million, which was partially offset by $3.6 million in net inflows into the Grayscale Ethereum Mini Trust. The remaining seven spot Ether ETFs saw no activity that day.

The total trading volume of the nine ETH ETFs fell from $151.57 million on Aug. 28 to $95.91 million on Aug. 29. At the time of publication, Ethereum (ETH) was also changing hands, up 0.9% at $2,529.