US spot Bitcoin ETFs record net outflows worth $81 million, ending a two-day streak

US-based Bitcoin ETFs recorded significant outflows on Wednesday, amounting to $81.36 million. The outflow ended a two-day streak of positive inflows for the funds. On the other hand, Ethereum spot ETFs recorded positive inflows worth $10.77 million on Wednesday.

American Bitcoin spot exchange-traded funds (ETFs) drew attention on Wednesday following outflow transactions worth more than $80 million. 

The outflows witnessed on Wednesday ended the two-day streak of positive inflows that began earlier this week. August 12th and 13th saw US BTC ETFs record inflows worth $27.87 million and $38.94 million, respectively.

BlackRock’s IBIT records inflows as other Bitcoin ETFs register outflows

Data from Sosovalue, a crypto-oriented data provider, indicates that BlackRock’s iShares Bitcoin Trust ETF registered net inflows worth $2.68 million as of August 14th. 

Franklin Bitcoin ETF also registered positive flows on Wednesday worth $3.42 million. However, most Bitcoin ETFs registered outflows. Grayscale Bitcoin ETF recorded the largest outflows, worth $56.87 million. 

Fidelity trailed behind Grayscale with negative flows worth $18.05 million. Ark & 21 Shares’ ARKB registered $6.77 million in outflows, trailing behind Fidelity’s FBTC. Bitwise’s BITB recorded the lowest outflow figures compared to other ETFs, with $5.78 million in net outflows.

VanEck, Valkyrie, and Invesco are among six other ETFs that registered zero flows on Wednesday. Cumulatively, ETFs traded a total volume of $1.3 billion, which is slightly higher than Tuesday’s total traded volume of $1.18 billion.

Ethereum ETFs record inflows for the third day in a row

Sosovalue also tracked positive performance on Ethereum ETFs. Ethereum ETFs recorded a third day of positive flows on Wednesday, worth $10.77 million. August 12th and 13th saw Ethereum ETFs register inflows worth $4.93 million and $24.34 million, respectively. 

BlackRock’s ETHA ETF registered the highest inflows among the nine Ethereum ETFs. ETHA recorded $16.13 million in net inflows. Fidelity’s ETF FETH trailed behind BlackRock’s ETHA with inflows amounting to $6.65 million. Bitwise’s ETHW and Grayscale’s ETH ETFs registered inflows worth $2.67 million and $2.26 million, respectively.

Franklin’s EZET, VanEck’s ETHV, 21Shares’ CETH, and Invesco’s QETH did not register any flows on Wednesday. However, Grayscale’s ETHE registered outflows worth $16.95 million. The total trading volume for all Ethereum spot ETFs settled at $155.91 million, a significant drop from the previous day’s $190.76 million and Monday’s $285.96 million.

As of this publication, the total net assets under the approved Ethereum ETFs are $7.54 billion, representing 2.34% of Ethereum’s total market cap. On the other hand, Bitcoin ETFs have total net assets worth $53.60 billion, which accounts for 4.59% of Bitcoin’s market cap.