United

Spot

Grayscale Bitcoin Trust

Spot Bitcoin exchange-traded funds’ consecutive inflows in the United States finally came to an end with the launch of spot Ethereum ETFs. 
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="">data</a> provided by Farside Investors, spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) ETFs in the U.S. recorded a net outflow of $78 million on Tuesday, July 23. This is the first outflow for the investment products since July 3. 
Per a crypto.news <a href="https://crypto.news/btc-etf-inflows-reached-533m-ahead-of-eth-etf-launch/">report</a> on July 23, spot BTC ETFs have seen consistent inflows over the past three weeks as the broader cryptocurrency market witnessed a rebound.&nbsp; 
Data from Farside Investors shows that most outflows came from Bitwise Bitcoin ETF (BITB), worth $70.3 million. The ARK 21Shares Bitcoin ETF (ARKB) and Grayscale Bitcoin Trust (GBTC) also recorded $52.3 million and $27.3 million in outflows yesterday. 
 You might also like: <a href="https://crypto.news/bitcoin-miner-riot-platforms-acquires-rival-block-mining-for-92-5m/"> Bitcoin miner Riot Platforms acquires rival Block Mining for $92.5m </a> 
On the other hand, BlackRock’s iShares Bitcoin Trust (IBIT) continued its bullish momentum with $71.9 million in inflows while the crypto market registered a soft correction.&nbsp; 
According to <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="">data</a> provided by CoinGecko, the global crypto market capitalization declined by 0.5% over the past day, dropping to $2.51 trillion.&nbsp; 
Bitcoin declined by 0.8% in the past 24 hours and is trading around the $66,000 mark at the time of writing. The second-largest cryptocurrency, Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>), slipped by 0.1% and is changing hands at $3,450 at the reporting time.&nbsp; 
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 BTC price – July 24 | Source: <a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">Trading View</a>
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The market-wide correction and spot BTC ETF outflows surfaced while the long-awaited <a href="https://crypto.news/eth-etf-launch-sell-the-news/" target="_blank" rel="noreferrer noopener">spot ETH ETFs</a> started trading in the U.S. Per a crypto.news report, these investment products <a href="https://crypto.news/eth-etfs-see-over-1b-of-trading-volume-on-launch-day/" target="_blank" rel="noreferrer noopener">witnessed a net inflow</a> of $106.8 million with a $1.1 billion trading volume on launch day. 
Notably, spot Bitcoin ETFs saw $655.3 million in net inflows on the day they were launched on Jan. 11.&nbsp; 
 Read more: <a href="https://crypto.news/ethereum-etf-inflows-could-surpass/"> Alluvial CEO: Ethereum ETF inflows could surpass $20b </a>

Spot BTC ETF win streak ends with $78m in outflows

crypto.news

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