US spot bitcoin ETFs experienced $18.6 million in net outflows yesterday, dominated by Fidelity’s FBTC
2024-10-09

U.S. spot bitcoin exchange-traded funds recorded $18.66 million in net outflows on Tuesday, ending a two-day streak of positive flows.
Fidelity’s FBTC led the outflows with $48.82 million exiting the product, according to SoSoValue data. Grayscale’s GBTC, the second largest spot bitcoin ETF by net assets, also saw $9.41 million in outflows after reporting no flows the day before.
BlackRock’s IBIT, the largest spot bitcoin ETF, was the only fund to see inflows, with $39.57 million flowing into the ETF. The nine other ETFs recorded zero flows.
The total trading volume for the 12 products reached $1.35 billion on Tuesday, up from $1.22 billion on Monday.
Ether ETFs saw outflows
Meanwhile, spot Ethereum ETFs in the U.S. recorded $8.19 million in net outflows on Tuesday after reporting zero flows on Monday.
Bitwise’s ETHW saw the largest outflows of the day, with $4.54 million leaving the fund, while Fidelity’s FETH logged outflows of $3.65 million. The seven other spot ether ETFs experienced no flows.
The nine ETFs’ total trading volume shrank to $102.37 million on Tuesday, compared to $118.43 million the day before.
Bitcoin edged down 0.32% over the past 24 hours to trade at $62,372 at the time of writing, while ether gained 0.52% to change hands at $2,445, according to The Block’s price page.
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