US spot bitcoin ETFs continue to bleed with $37 million in net outflows
Grayscale’s GBTC led the outflows of spot bitcoin ETFs on Wednesday, with $34.25 million leaving the fund.Bitcoin edged up 0.97% over the past 24 hours to trade at $57,276 at the time of writing.
Spot bitcoin exchange-traded funds in the U.S. saw $37.29 million exit the products on Wednesday, extending their streak of negative flows to six days.
SosoValue data showed that on Wednesday, Grayscale’s GBTC, the second-largest spot bitcoin ETF by net assets, led the negative flows with $34.25 million in net outflows. Fidelity’s FBTC also recorded $7.59 million in net outflows, and VanEck’s HODL saw $4.91 million leave the fund.
Bitwise’s BITB was the only spot bitcoin ETF to see net inflows, with $9.46 million flowing into the fund. BlackRock’s IBIT, the largest spot bitcoin ETF, logged zero flows on Wednesday. Seven other ETFs also saw zero flows for the day.
The total daily trading volume for the 12 ETFs shrank to $1.41 billion on Wednesday from $1.56 billion on Tuesday.
Ether ETFs also logged outflows
Meanwhile, U.S. spot Ethereum ETH +1.33% ETFs experienced $37.51 million in net outflows, marking the second consecutive day of negative flows.
The Grayscale Ethereum Trust (ETHE) recorded $40.63 million in net outflows, while the Grayscale Ethereum Mini Trust (ETH) saw inflows of $3.12 million.
The seven other spot ether ETFs recorded no flows on Wednesday.
The total trading volume of the nine spot ether ETFs decreased to $145.86 million on Wednesday from $163.5 million the day before.
The price of bitcoin edged up 0.97% over the past 24 hours to trade at $57,276 at the time of writing, while ether climbed 1.61% to change hands at $2,417, according to The Block’s price page .
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.
You may also like
Stablecoin Legislation Booms Globally, Why Is China Taking the Opposite Approach? An Article to Understand the Real National Strategic Choices
Amid the global surge in stablecoin legislation, China has chosen to firmly curb stablecoins and other virtual currencies, while accelerating the development of the digital yuan to safeguard national security and monetary sovereignty. Summary generated by Mars AI. This summary is produced by the Mars AI model and its accuracy and completeness are still being iteratively improved.
Liquidity migration begins! Japan becomes the Fed's "reservoir," 120 billions in carry trade returns set to ignite the December crypto market
The Federal Reserve has stopped quantitative tightening and may cut interest rates, while the Bank of Japan plans to raise rates, changing the global liquidity landscape and impacting carry trades and asset pricing. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its content are still under iterative improvement.
Weekly Hot Picks: Bank of Japan Sends Strongest Rate Hike Signal! Is the Copper Market Entering a Supercycle Rehearsal?
The leading candidate for Federal Reserve Chair is being questioned for potentially "accommodative rate cuts." Copper prices have reached a historic high, and a five-hour meeting between the United States and Russia ended without results. Expectations for a Japanese interest rate hike in December have surged, and Moore Threads' stock soared more than fivefold on its first day... What market moves did you miss this week?
Monad Practical Guide: Welcome to a New Architecture and High-Performance Development Ecosystem
This article will introduce some resources to help you better understand Monad and start developing.
Trending news
MoreCrypto prices
More
