Outside Source
Spot Bitcoin exchange-traded funds in the U.S. logged net outflows of $52.83 million on Sept. 18, ending four consecutive days of net inflows that drew in over $500 million.
According to data from SoSoValue, the outflows from these ETFs were led by ARK 21Shares’s ARKB which saw $43.4 million exit its fund. Grayscale’s GBTC and Bitwise’s BITB reported additional outflows of $8.1 million and $3.9 million respectively.
Grayscale Bitcoin Mini Trust was the only spot BTC fund to experience inflows on the day, bringing in $2.7 million. The remaining eight spot BTC ETFs including BlackRock’s IBIT remained neutral on the day.
Total trading volume for these investment products saw a 28% drop from $2.27 billion on Sept. 17 to $ 1.63 billion seen yesterday. These funds have recorded a cumulative total net inflow of $17.44 billion since inception.
Meanwhile, Bitcoin (BTC) rose 3% in the past 24 hours to $62,109 at the time of writing, according to price data from crypto.news. This price movement follows the Federal Open Market Committee’s 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.
Spot ETher ETFs record third consecutive day of outflows
Meanwhile, the nine U.S.-based spot Ethereum ETFs experienced net outflows of $9.74 million on Sept. 18, continuing their third-day outflow streak. The entire daily net outflows originated from Grayscale’s ETHE, with $14.7 million flowing out of its fund.
These outflows were partially offset by BlackRock’s ETHA, which logged inflows of $4.9 million on the day. The remaining seven ETH ETFs remained neutral.
The trading volume for these investment vehicles jumped to $221.88 million from the $176.26 million seen the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $615.58 million to date. At the time of publication, Ethereum (ETH) saw a 4.8% rise, trading at $2,438.
This article first appeared at crypto.news
