bloomingbitbloomingbit

US Bitcoin and Ethereum ETFs post net outflows in tandem…$1.7bn withdrawn over the past month

Bloomingbit Newsroom
공유하기

Summary

  • US spot Bitcoin ETFs swung back to $348 million in net outflows in a single day, with $1.09 billion in net outflows in July alone.
  • Major products including BlackRock IBIT, ARK Invest ARKB, Grayscale GBTC, and Fidelity FBTC saw large amounts of capital pulled out.
  • Spot Ethereum ETFs also recorded $616.8 million in net outflows in July, bringing the combined withdrawals with Bitcoin to $1.7 billion over the past month.

US spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) swung back to net outflows just a day after returning to net inflows.

According to crypto analytics firm SosoValue on 1 August (local time), US spot Bitcoin ETFs recorded net outflows of $348 million the previous day (31 July). They flipped back to net outflows just one day after turning to net inflows on 30 July. Spot Bitcoin ETFs saw net outflows of $1.09 billion in July alone.

Specifically, BlackRock’s IBIT alone saw $99.3 million leave the fund. ARK Invest’s ARKB and Grayscale’s GBTC recorded net outflows of $76.53 million and $69.09 million, respectively. Fidelity’s FBTC also posted net outflows of $66.58 million.

Trend in net inflows/outflows for US spot Bitcoin (BTC) ETFs. Photo=SosoValue
Trend in net inflows/outflows for US spot Bitcoin (BTC) ETFs. Photo=SosoValue

Spot Ethereum ETFs showed a similar pattern. They saw $72.06 million pulled out the previous day. As with spot Bitcoin ETFs, this was a return to net outflows just one day after turning to net inflows on 30 July.

Spot Ethereum ETFs recorded net outflows of $616.8 million in July. That means a combined $1.7 billion has been withdrawn from spot Bitcoin and Ethereum ETFs over the past month.

In detail, Grayscale’s Ethereum Mini Trust ETF led the outflows, with $31.98 million leaving the fund. BlackRock’s ETHA also recorded net outflows of $21.56 million.

publisher img

Bloomingbit Newsroom

news@bloomingbit.ioFor news reports, news@bloomingbit.io
What did you think of the article you just read?