US spot bitcoin ETFs see third straight day of outflows with $54 million exiting
2024-10-04

Spot bitcoin exchange-traded funds in the U.S. reported net outflows of $54.13 million on Thursday. This marks their third consecutive day of negative flows, bringing the three-day cumulative outflows to over $388 million during this period. 
The pack of outflows was led by Ark Invest and 21Shares’ ARKB, which recorded $57.97 million in net outflows, according to data from SoSoValue. Fidelity’s FBTC also saw $37.21 million in net outflows yesterday.
Meanwhile, BlackRock’s IBIT led inflows with $35.96 million on Thursday. Bitwise’s BITB saw net inflows of $2.65 million, followed by $2.44 million into Invesco’s BTCO. The remaining seven funds, including Grayscale’s GBTC, reported zero flows for the day.
On Thursday, spot bitcoin ETFs recorded a total daily trading volume of $1.13 billion, down from $1.66 billion the day before. The funds have accumulated total net inflows of $18.47 billion since launching in January.
Ether ETFs experienced outflows
U.S. spot Ethereum ETFs reported total daily net outflows of $3.2 million. Grayscale’s ETHE logged $14.69 million in net outflows, while around $587,090 exited Fidelity’s FETH.
The outflows were partially offset by $12.08 million in net inflows into BlackRock’s ETHA. The six other spot ether ETFs saw zero flows for the day.
The nine ether ETFs recorded $115.66 million in daily trading volume on Thursday, down from $197.82 million on Wednesday. Since launching in July, the funds have accumulated net outflows of $561.05 million.
According to The Block’s crypto price page, Bitcoin’s price dropped 0.85% in the past 24 hours to trade at $60,959, while ether dipped 1.38% to $2,366.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.