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Reported by The Block: Spot bitcoin exchange-traded funds in the U.S. experienced $168.4 million in net outflows yesterday.
Grayscale’s GBTC led net outflows on Monday with $69.12 million.
Crypto and global equities markets experienced substantial turbulence during the day.
Spot bitcoin exchange-traded funds in the U.S. experienced $168.4 million in net outflows on Monday as crypto markets experienced significant turbulence.
Among 12 spot bitcoin ETFs, Grayscale’s GBTC recorded $69.12 million daily net outflows, according to data from SoSoValue. Ark Invest and 21Shares’ ARKB closely followed with $69 million outflows, while Fidelity’s bitcoin fund reported $58 million net outflows.
These outflows were countered by $21.81 million net inflows in Grayscale’s latest bitcoin trust, which went live last week. ETFs from VanEck and Bitwise also drew in around $3 million worth of funds on Monday.
BlackRock’s IBIT, the largest spot bitcoin ETF in terms of net asset value, recorded zero flows yesterday, along with funds from Valkyrie, Invesco and three others. The 12 funds have accumulated a total net inflow of $17.34 billion since January.
A total of $5.24 billion worth of funds were traded in spot bitcoin ETFs on Monday, which is the largest amount of value traded since March 25, likely due to Monday’s major global market turbulence.
The global cryptocurrency and stock market’s major downturn on Monday was triggered by multiple financial and macroeconomic factors. Macro issues that impacted global equities included escalating tensions in the Middle East and weak U.S. economic numbers, while crypto-related elements such as Jump Crypto’s asset movements and uncertainties in the upcoming U.S. election further triggered a crypto market selloff.
Bitcoin’s value briefly fell below the $50,000 mark but has since recovered to trade at $55,524, according to The Block’s bitcoin price page. Ether’s price also plunged to low levels of around $2,200 on Monday and bounced back to trade at $2,500.
Spot Ethereum ETFs mark gains
Despite market hardships, spot ether ETFs reported a net inflow of $48.73 million on Monday. BlackRock’s ETHA led with $47 million inflows, SoSoValue data showed. VanEck and Fidelity’s ether ETFs followed with around $16 million net inflows, while Grayscale’s Ethereum Mini Trust saw $7.59 million inflows. Funds from Bitwise and Franklin Templeton also saw net inflows.
Grayscale’s ETHE fund was the only ETF to report net outflows on Monday, worth $46.84 million. Funds from Invesco and 21Shares saw zero flows for the day. Their total value traded on Monday stood at $715.61 million.
The spot ether ETFs, which only began trading last month, have amassed a total net outflow of $461.98 million.
Spot Ethereum ETFs mark gains
Despite market hardships, spot ether ETFs reported a net inflow of $48.73 million on Monday. BlackRock’s ETHA led with $47 million inflows, SoSoValue data showed. VanEck and Fidelity’s ether ETFs followed with around $16 million net inflows, while Grayscale’s Ethereum Mini Trust saw $7.59 million inflows. Funds from Bitwise and Franklin Templeton also saw net inflows.
Grayscale’s ETHE fund was the only ETF to report net outflows on Monday, worth $46.84 million. Funds from Invesco and 21Shares saw zero flows for the day. Their total value traded on Monday stood at $715.61 million.
The spot ether ETFs, which only began trading last month, have amassed a total net outflow of $461.98 million.
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