US Spot Bitcoin ETFs Record $54 Million in Outflows, Their Third Consecutive Outflow Streak

On Thursday, the US spot Bitcoin exchange-traded funds (ETFs) recorded the exit of $54.13 million, marking their third straight day of outflow. 

Similarly, Ethereum-based ETFs posted $3.20 million in net outflows, led by Grayscale’s ETHE, which recorded an outflow of $14.7.

Meanwhile, the broader crypto market shows signs of recovery after a few days of downward slip.

Spot Bitcoin ETFs Mark Third Day Of Negative Flow Streak, Lossing Over $54 Million
According to data from SosoValue, the US spot Bitcoin ETFs recorded $54.13 million in net outflows on Thursday, October 3. ARK Invest and 21Shares’ ARKB led the negative flow, with about $57.97 million in net outflows.

ARKB’s newest net outflows came after it recorded an exit of about $60.3 million the previous day. As of October 3, ARKB boasts net inflows of $2.51 billion.

Fidelity’s FBTC ranked second, with net outflows of $37.21 million. As of October 3, it boasted net inflows of $9.93 billion.

Impressively, BlackRock’s IBIT pioneered positive flows for the day as it amassed $35.96 million in net inflows. Bitwise’s BITB followed with $2.65 million in net inflows, while Invesco’s BTCO accumulated net inflows of $2.44 million.

The other Bitcoin ETFs, including Grayscale’s GBTC, posted zero net flows for the day.

Following the trend on Thursday, all the ETFs had a daily trade volume of $1.13 billion, a slight decline from the previous day’s volume of $1.66 billion. The Bitcoin ETFs had net inflows of $18.47 billion.

Ethereum-Based ETFs Loss $3.2 Million Amid Slight Recovery In Broader Crypto Market
The Ethereum-based ETFs within the US also recorded negative influence from the bears. On Thursday, ETH ETFs saw net outflows of $3.2 million.

According to data from Farside Investors, two ETFs recorded overall negative flows. Grayscale’s ETHE had the largest outflow, amounting to $14.7 million for the day. Fidelity’s FETH was the second ETF with $600,000 in net outflows.

BlackRock’s ETHA was the only ETH ETF with positive flows amounting to $12.1 million for the day. The remaining six ETH ETFs posted zero net flows for the day. 

The nine US ETH ETFs recorded a daily trade volume of $115.66 million, up from $197.82 million the previous day. Following their launch in July, the products reflected net outflows of $561.05 million.

Meanwhile, the broader crypto market shows signs of recovery, as the total valuation surged by 2.32% to reach $2.14 trillion.

Bitcoin has regained its hold on the $61,000 region after slipping to the $60,000 threshold. BTC trades at $61,394, indicating a 1.20% increase over the past day.

Moreover, Bitcoin’s market cap now sits at $1.21 trillion as BTC reflects a 56.90% dominance over the altcoins. On its part, Ethereum’s price rose by over 1.40% to hover around $2,381, with a market cap of over $286.52 billion.