The leading cryptocurrency Bitcoin (BTC) made a big move recently and broke a new record by rising above $123,000.
After this ATH, BTC price has retreated and continues to consolidate at the $117,000-$118,000 level.
While the pullback in BTC price had a negative impact on spot Bitcoin ETFs, the 13-day entry streak in US spot Bitcoin ETFs was broken, according to data.
Accordingly, after a 13-day inflow series, net outflows were seen in spot BTC ETFs yesterday.
According to Farside Investors data, a total of $131.4 million outflow occurred yesterday from spot Bitcoin ETFs traded in the US.
Ark Invest’s ARKB fund saw the largest outflow with $77.5 million, followed by Grayscale’s GBTC fund with $36.7 million, Fidelity’s FBTC fund with $12.8 million, VanEck’s HODL fund with $2.5 million, and Bitwise’s BITB fund with $1.91 million.
On the other hand, BlackRock’s IBIT fund, Invesco’s BTCO fund, Franklin’s EZBC fund, Valkyrie’s BRRR fund, and WisdomTree’s BTCW fund recorded no net inflows or outflows.
Ethereum Logins Continue!
In contrast to net outflows in Bitcoin, inflows continued in US spot Ethereum ETFs, with net inflows of $298.06 million in a single day.
According to Farside Investors data, Fidelity’s FETH fund was the ETF with the highest inflows, with $126.9 million.
BlackRock’s ETHA fund followed with $102 million, while Grayscale’s ETH fund saw inflows of $54.9 million and Bitwise’s ETHW fund saw inflows of $13.1 million.
In comparison, 21Shares’ CETH fund experienced $0.4 million in outflows, while other ETH ETFs recorded no net inflows or outflows.
The total net inflow of $298.06 million in US-traded Ethereum spot ETFs marks an all-time high in terms of trading volume.
Additionally, spot ETH ETFs experienced their most significant inflows since their launch on July 24. At this point, ETH ETFs recorded a total of $3.53 billion in net inflows over the past 12-day period, with daily inflows outpacing Bitcoin ETFs for several days.
*This is not investment advice.