- Cumulative net inflows of spot Bitcoin ETFs dropped to $54.18 billion as the downturn reversed a week of consistent increases.
- Spot Ether exchange-traded funds, meanwhile, had their longest inflow run ever expire.
The net outflow of $812.25 million from spot Bitcoin exchange-traded funds (ETFs) on Friday was the second-biggest loss in a single day for these products.
Cumulative net inflows dropped to $54.18 billion as the downturn reversed a week of consistent increases. According to SoSoValue, the total assets under management fell to $146.48 billion, which is equivalent to 6.46% of Bitcoin’s market value.
With $331.42 million in redemptions, FBTC from Fidelity took huge hit. ARKB from ARK Invest witnessed a significant decline of $327.93 million. Additionally, $66.79 million was lost by Grayscale’s GBTC. A little loss of $2.58 million was reported by BlackRock’s IBIT.
Spot Bitcoin ETFs continued to see robust trading volumes, with a total of $6.13 billion exchanged. Despite the outflows, interest persisted as seen by the $4.54 billion in volume from IBIT alone.
Similar Fate for Spot Ether ETFs
Ether exchange-traded funds, meanwhile, had their longest inflow run ever expire. There was a $152.26 million outflow from the sector on Friday, after 20 trading days of positive inflows. At the current price of Ether, total assets under management are $20.11B, or 4.70% of the market value.
The biggest losses occurred with Grayscale’s ETHE, which lost $47.68 million, and Bitwise’s ETHW, which lost $40.30 million. Withdrawals of $6.17 million were recorded by Fidelity’s FETH. There were no changes to the $10.71 billion in assets held by BlackRock’s ETHA during the day. Ethereum ETFs saw a record-breaking $726.74 million daily inflow on July 16, the most since their inception, marking the most activity in the recent run.
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