The total daily trading volume of Bitcoin ETFs dropped to $1.64 billion on Thursday, down from $2.18 billion on Wednesday.
United States spot Bitcoin exchange-traded funds saw net outflows of $71.73 million on Thursday, marking the third consecutive day of withdrawals.
On August 29, BlackRock’s ETF, the largest spot Bitcoin ETF by net assets, saw a net outflow of $13.6 million, its second outflow since the $36.9 million outflow on May 1. Farside Investors data revealed that this was also the largest combined outflow day recorded for Bitcoin ETFs, totalling $563.7 million.
BlackRock’s outflow record ranked third, following the Fidelity Wise Origin Bitcoin Fund (FBTC), which led the day with $31.1 million in net outflows, and Grayscale’s GBTC, which continued its outflow streak with $22.68 million, ranking in second place.
Bitwise’s BITB also recorded $8.09 million withdrawal from the fund, and Valkyrie’s BRRR saw outflows of $1.68 million.
The ARK 21Shares Bitcoin ETF (ARKB) was the only fund to record net inflows, with $5.3 million flowing into the product.[ez-toc]
The total daily trading volume for the 12 spot Bitcoin ETFs decreased to $1.64 billion on Thursday, down from $2.18 billion on Wednesday.
Meanwhile, the recent outflows from Bitcoin ETFs coincide with a broader decline in bitcoin’s price, which has dropped approximately 3.43% over the past week. According to data from CryptoCurrenciesToWatch, it is currently changing hands at slightly over $59,400 at the time of writing.
Spot ETH ETFs Record $1.77M in Net Outflows
Unlike United States spot ETH ETFs, which recorded negative flows on August 29 with $1.77 million in net outflows after reporting modest positive flows the day before.
The Grayscale Ethereum Trust (ETHE) was the only spot Ether ETF to experience outflows totaling $5.35 million. However, this was partially offset by net inflows of $3.57 million into the Grayscale Ethereum Mini Trust (ETH).
ETHE has experienced net outflows nearly every day since its July launch, accumulating $2.56 billion in outflows to date. The seven other spot ether funds recorded no flows on Thursday.
The total trading volume of the ETFs dropped to $95.91 million on Thursday, down from $151.57 million on Wednesday.
Meanwhile, the price of ETH has also been declining, falling 5.64% over the past seven days to $2,517.06, according to data from CoinMarketCap.
