Key Points
- Spot Bitcoin ETFs experienced a third day of outflows, totaling $361.2 million.
- U.S. spot Ethereum ETFs also recorded net daily outflows of $3.2 million.
Spot Bitcoin exchange-traded funds (ETFs) saw a third day of consecutive outflows on October 3, with total withdrawals reaching $361.2 million.
Spot Bitcoin ETFs Outflows
Data from SoSoValue revealed that the 12 U.S.-listed spot Bitcoin ETFs experienced net outflows of $54.13 million on that day, following a withdrawal of $91.76 million the previous day.
The ARKB fund by ARK 21Shares led the outflows with $57.97 million, marking the fourth consecutive day of declines. This week alone saw $212.1 million leaving the fund. Fidelity’s FBTC saw outflows of $37.21 million, despite a day of positive inflows earlier in the week.
Some ETFs Record Inflows
Conversely, BlackRock’s IBIT, the largest spot Bitcoin ETF by total net assets, logged $35.96 million in inflows. This brought its total since launch to an impressive $21.5 billion. Bitwise’s BITB and Invesco’s BTCO also saw modest inflows of $2.65 million and $2.44 million, respectively. The remaining spot Bitcoin ETFs remained neutral on the day.
The total trading volume across the 12 Bitcoin ETFs significantly declined, dropping to $1.13 billion on October 3 from the previous day’s levels. Despite recent outflows, these funds have collectively attracted a net inflow of $18.47 billion since their inception. Meanwhile, Bitcoin (BTC) was trading sideways at $61,213 at the time of reporting.
Ethereum ETFs Also See Outflows
The trend of outflows extended to U.S. spot Ethereum ETFs, which posted net daily outflows of $3.2 million. Grayscale’s ETHE led the outflows, with $14.69 million exiting the fund, followed by $587,090 in outflows from Fidelity’s FETH.
However, BlackRock’s Ethereum Trust ETHA registered $12.08 million in net inflows, counterbalancing some of the losses. The six remaining spot Ether ETFs remained static for the day. Ether ETF trading volumes also fell sharply, with the nine funds recording $115.66 million in volume on Oct. 3, down from $197.82 million the day prior. Since their July launch, these ETFs have accumulated net outflows of $561.05 million. Ethereum (ETH) was trading at $2,381 at press time.