US Bitcoin ETFs See $37 Million Exodus as Outflows Surge

Spot Bitcoin exchange-traded funds (ETFs) in the U.S. saw $37.29 million in outflows on Wednesday, marking six consecutive days of negative flows.

According to SosoValue data, Grayscale’s GBTC, the second-largest Bitcoin ETF by net assets, led with $34.25 million in outflows, while Fidelity’s FBTC lost $7.59 million, and VanEck’s HODL saw $4.91 million exit.

Bitwise’s BITB was the only Bitcoin ETF to see inflows, gaining $9.46 million. BlackRock’s IBIT and seven other ETFs reported no activity. Overall trading volume for the 12 ETFs dropped to $1.41 billion from Tuesday’s $1.56 billion.

Meanwhile, U.S. spot Ethereum ETFs also faced $37.51 million in outflows, with Grayscale’s Ethereum Trust (ETHE) leading the losses at $40.63 million.

Grayscale’s Ethereum Mini Trust saw inflows of $3.12 million, while the seven remaining Ethereum ETFs had no activity. The total trading volume for Ethereum ETFs fell from $163.5 million on Tuesday to $145.86 million on Wednesday.

At the time of reporting, Bitcoin rose 0.97% to $57,276, while Ether climbed 1.61% to $2,417.

Image Credit: Pixabay