The total trading volume of spot Bitcoin ETFs reached $1.2 billion, accumulating over $17.95 billion since January.
The United States spot Bitcoin Exchange-Traded Funds (ETFs) has recorded a net outflow of $127 million, ending an eight-day streak of continuous inflows. This represents a notable change in investor sentiment, with fluctuations in bitcoin (BTC) price and broader market uncertainty influencing investors’ decision-making.
Over the past week, U.S. spot Bitcoin ETFs have seen robust inflows fueled by positive market sentiment. The consistent inflows in the past week were a positive sign for the crypto market, which reflects growing investor confidence in the crypto asset.
During the eight days of inflow, U.S. spot Bitcoin exchange-traded funds accumulated $756 million in investments.
Ark & 21Shares’ ARKB led the net outflows, recording a $101.97 million decline, according to data from the financial research platform SoSoValue, while Valkyrie’s BRRR has not been updated.
Grayscale’s GBTC recorded net outflows totaling $18.32 million, while Bitwise’s BITB lost $6.76 million. Meanwhile, eight funds, including BlackRock’s IBIT, reported zero flows on Tuesday.
Excluding BRRR, the U.S. spot Bitcoin funds saw a total trading volume of $1.2 billion. Since January, they have amassed $17.95 billion in net inflows.
Bitcoin Price Swing
News about the $127 million outflow is accompanied by a sharp decline in BTC’s price. Over the past 24 hours, the leading cryptocurrency dropped to a nine-day low of slightly above $58,000.
Despite slightly recovering to $59,900, the crypto asset is down 3.95% over the last 24 hours, with its market cap dropping from $1.24 trillion to $1.183 trillion at the time of writing.
The volatility has impacted highly leveraged traders, with nearly 90,000 positions liquidated in the past 24 hours. The total value of these liquidated positions exceeds $320 million.
Spot ETH ETFs Record Ninth Outflow Day
Meanwhile, the United States spot ETH ETFs extended their streak to nine consecutive days of net outflows, with $3.45 million in negative flows reported yesterday.
Grayscale’s ETH fund saw a daily net outflow of $9.18 million, while Fidelity’s FETH recorded $3.88 million in net inflows, and Bitwise’s ETHW experienced $1.86 million in inflows.
On August 26, spot ETH funds recorded a trading volume of $129.95 million, which remains substantially below the approximately $900 million recorded in late July. These funds have experienced total net outflows amounting to $481.32 million.