Spot Bitcoin ETF net outflows streak hits three days, totaling $361.2m

Spot Bitcoin exchange-traded funds experienced outflows for the third consecutive day on October 3, with total withdrawals during the period rising to $361.2 million.

According to data from SoSoValue, 12 U.S.-listed spot Bitcoin ETFs saw net outflows of $54.13 million on Thursday, October 3, following withdrawals of $91.76 million the previous day.

ARK 21Shares’ ARKB fund ranked first with an outflow of $57.97 million, marking its fourth consecutive day of decline, with $212.1 million outflowing from the fund this week alone. Fidelity’s FBTC followed closely behind with outflows of $37.21 million, despite experiencing positive inflows at the beginning of the week.

BlackRock’s IBIT, the largest spot Bitcoin ETF by total net assets, bucked the trend by recording inflows of $35.96 million, bringing its total since launch to an impressive $21.5 billion.

Bitwise’s BITB and Invesco’s BTCO also recorded modest inflows of $2.65 million and $2.44 million, respectively. The remaining spot Bitcoin ETFs remained neutral throughout the day.

Total trading volume across the 12 Bitcoin ETFs dropped significantly to $1.13 billion on October 3, compared to the previous day’s levels. Despite recent outflows, these funds have collectively attracted net inflows of $18.47 billion since inception. Meanwhile, Bitcoin (BTC) was trading sideways at $61,213 at the time of reporting.

Spot Ether ETFs record $3.2 million outflow

The trend has also spread to US spot Ethereum ETFs, which recorded a daily net outflow of $3.2 million. Grayscale’s ETHE led the outflows with a $14.69 million outflow from the fund, followed by a $587,090 outflow from Fidelity’s FETH.

However, BlackRock’s Ethereum Trust ETHA offset some losses by recording a net inflow of $12.08 million. The remaining six spot Ether ETFs remained stable throughout the day.

Ether ETF trading volumes also dropped sharply; Volume in the nine funds fell to $115.66 million on Oct. 3, from $197.82 million the previous day. Since their July launches, these ETFs have generated net outflows of $561.05 million. Ethereum (ETH) was trading at $2,381 at the time of writing.