- On Tuesday, the 12 spot bitcoin ETFs had net withdrawals of $287.78 million.
- The second-largest spot bitcoin ETF, GBTC, run by Grayscale, lost $50.39 million.
Tuesday was the latest day of negative flows for U.S. spot bitcoin exchange-traded funds. On Tuesday, the 12 spot bitcoin ETFs had net withdrawals of $287.78 million. The most negative flows since May 1, according to data from SosoValue.
The biggest bitcoin exchange-traded fund (ETF) by net assets, IBIT, which is run by BlackRock, had no flows yesterday. The second-largest spot bitcoin ETF, GBTC, run by Grayscale, lost $50.39 million. While the biggest loser, FBTC, run by Fidelity, lost $162.26 million.
Net withdrawals of $33.6 million were recorded by Ark and 21Shares’ ARKB, while Bitwise’s BITB reported a net outflow of $24.96 million. There were small withdrawals from a number of other exchange-traded funds (ETFs) run by VanEck, Valkyrie, Invesco, and Franklin Templeton.
Major Market Sell-off
Wall Street crashed on Tuesday on the poor U.S. ISM data, which led to a market selloff and the massive outflows of capital. With a gain of 0.4 percentage points from July, the US ISM manufacturing index for August came in at 47.2%.
Compared to last Friday, when the overall trading volume for the spot bitcoin ETFs was $1.54 billion, Tuesday’s volume was $1.56 billion. Monday was a holiday in the United States, hence the market was closed. At the time of writing, Bitcoin is trading at $57,154, down 1.15% in the last 24 hours as per data from CMC.
Meanwhile, U.S. spot ether ETFs had their largest daily negative flows since August 2 with net withdrawals of $47.4 million on Tuesday. At $52.31 million, the Grayscale Ethereum Trust (ETHE) was the only spot ether ETF to announce outflows for the day.
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