US spot bitcoin ETFs saw $211 million in outflows, extending streak of negative flows

Reported by The Block: Fidelity’s FBTC saw the largest amount of outflows on Thursday, with $149.49 million.
Spot ether ETFs showed comparatively small net movements in funds.

Spot bitcoin exchange-traded funds in the U.S. saw $211.15 million in net outflows on Thursday, recording their seventh consecutive day of negative flows.

Fidelity’s FBTC saw the largest amount of outflows among spot bitcoin ETFs, with $149.49 million, according to data from SoSoValue. Bitwise’s BITB followed with $30 million in net outflows. Both Grayscale’s GBTC and mini trust recorded outflows on Thursday: GBTC saw $23.22 million, while the mini trust saw $8.45 million move out from the ETFs.

There were no funds that recorded net inflows yesterday. The eight other funds, including BlackRock’s IBIT, logged zero flows for the day.

The total daily trading volume for the 12 ETFs declined further to $1.35 billion, down from $1.41 billion on Wednesday. The spot bitcoin funds have amassed total net inflows of $17.06 billion since launching in January.

Ether ETFs little changed
Spot Ethereum ETFs in the U.S. saw relatively small movements of funds on Thursday, recording around $152,720 in net outflows.

Net flows were observed only in Grayscale’s two ether funds: ETHE reported $7.39 million in net outflows, while the Ethereum Mini Trust recorded $7.24 million in net inflows. Seven other ETFs saw zero flows on Thursday.

Ether funds also saw a lower daily trading volume of $108.59 million on Thursday, compared to $145.86 million the day before. The funds have accumulated a total of $562.31 million in net outflows since their listing in July.

Meanwhile, global markets currently await Friday's release of the latest U.S. non-farm payroll data, a key indicator of the country’s economic health.

“The reaction to NFP will be nuanced and dependent on details,” said Augustine Fan, head of insights at SOFA.org. “The ideal case for equities and BTC will be for a number that is just weak enough, but not so weak to induce imminent recession concerns so that the Fed can still be seen as ahead of or 'on time' with the economic trajectory.”