Spot Bitcoin exchange-traded funds in the U.S. experienced net outflows of $52.83 million on Sept. 18, marking the end of four consecutive days of net inflows that attracted over $500 million.
Breakdown of Bitcoin ETF Outflows
According to recent data, the outflows from these ETFs were primarily driven by ARK 21Sharesβs ARKB, which saw $43.4 million exit its fund. Additionally, Grayscaleβs GBTC and Bitwiseβs BITB reported outflows of $8.1 million and $3.9 million, respectively.
Interestingly, the Grayscale Bitcoin Mini Trust was the sole spot BTC fund to record inflows on the same day, bringing in $2.7 million. The remaining eight spot BTC ETFs, including BlackRockβs IBIT, remained neutral.
Trading Volume and Historical Data
The total trading volume for these investment products experienced a 28% decline, dropping from $2.27 billion on Sept. 17 to $1.63 billion on Sept. 18. Since their inception, these funds have accumulated a cumulative total net inflow of $17.44 billion.
Bitcoin Price Movement
Meanwhile, Bitcoin saw a 3% increase in the past 24 hours, reaching $62,109 at the time of writing. This price movement comes in the wake of the Federal Open Market Committeeβs recent decision to cut interest rates by 50 basis points. The easing of monetary policy typically boosts demand for risk assets, driving Bitcoin into a bullish trend.
Bitcoin rose 3% in the past 24 hours to $62,109 at the time of writing.
Ethereum ETF Outflows Continue
On the same day, nine U.S.-based spot Ethereum ETFs experienced net outflows of $9.74 million, continuing a three-day outflow streak. The entire daily net outflows were attributed to Grayscaleβs ETHE, which saw $14.7 million flow out of its fund.
These outflows were partially offset by BlackRockβs ETHA, which recorded inflows of $4.9 million on the same day. The remaining seven ETH ETFs remained neutral.
Ethereum Trading Volume and Historical Data
The trading volume for these Ethereum investment vehicles increased to $221.88 million from the $176.26 million recorded the previous day. To date, spot Ether ETFs have experienced a cumulative net outflow of $615.58 million.
Ethereum Price Movement
At the time of publication, Ethereum saw a 4.8% rise, trading at $2,438.
Ethereum saw a 4.8% rise, trading at $2,438.
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