Bitcoin and Ethereum ETFs See Negative Flows Despite Increased Trading Volume

0

TLDR:

  • Spot Bitcoin ETFs in the US saw net outflows of $43.97 million on September 11, ending a two-day streak of positive flows
  • ARK 21Shares’ ARKB had the largest outflows at $54 million
  • Fidelity’s FBTC led inflows with $12.6 million
  • Spot Ethereum ETFs also saw net outflows of $542,870
  • Trading volumes increased for both Bitcoin and Ethereum ETFs

On September 11, 2024, both Bitcoin and Ethereum exchange-traded funds (ETFs) in the United States experienced net outflows, marking a change from the previous days’ positive trends.

Bitcoin ETF Performance

The 12 spot Bitcoin ETFs in the US logged a combined net outflow of $43.97 million on September 11. This ended a two-day streak of positive flows for these investment vehicles.

ARK 21Shares’ ARKB saw the largest outflows, with $54 million in withdrawals. Grayscale’s GBTC followed with $4.6 million in outflows.

However, not all Bitcoin ETFs saw negative flows. Fidelity’s FBTC led the inflows for the day, recording $12.6 million in net additions.

Invesco’s BTCO also saw positive movement with $2.6 million in inflows. Seven other Bitcoin ETFs, including BlackRock’s IBIT, saw no trading activity on September 11.

Ethereum ETF Activity

The spot Ethereum ETFs also experienced outflows on the same day. The nine US-based Ethereum ETFs recorded a net outflow of $542,870.

VanEck’s ETHV led the outflows with $1.7 million, while Fidelity’s FETH was the only Ethereum ETF to see inflows, at $1.2 million.

Trading Volume and Price Movements

Despite the outflows, trading volumes for both Bitcoin and Ethereum ETFs increased. The total trading volume for Bitcoin ETFs jumped to $1.27 billion on September 11, up from $717 million the previous day. Ethereum ETFs saw their daily trading volume rise to $126.2 million.

As of September 12, 2024, Bitcoin’s price was up 2.7% over the past day, trading at $57,932. Ethereum also saw a modest increase of 1%, trading at $2,354.

The post Bitcoin and Ethereum ETFs See Negative Flows Despite Increased Trading Volume appeared first on Blockonomi.

Leave a Reply

Your email address will not be published. Required fields are marked *

You have not selected any currencies to display

Subscribe To The Latest Crypto News

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

World Wide Crypto will use the information you provide on this form to be in touch with you and to provide updates and marketing.