Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin exchange-traded funds in the U.S. saw a significant jump in net positive flows while spot Ether ETFs outflows slowed down.
According to <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">data </a>from SoSoValue, the 12 spot Bitcoin ETFs logged outflows of $211.15 million on Sep. 5, a surge of over six times compared to the $37.29 million outflows <a href="https://crypto.news/spot-bitcoin-and-ethereum-etfs-see-2nd-consecutive-day-of-joint-outflows-streak/" target="_blank" rel="noopener noreferrer nofollow">recorded </a>the previous day.
Fidelity’s FBTC led the lot with $149.5 million leaving the fund. Biwise’s BITB, Grayscale’s GBTC, and Grayscale Bitcoin Mini Trust followed with recorded outflows of $30 million, $23.2 million, and $8.4 million, respectively.&nbsp;
Notably, Fidelity’s FBTC also saw the largest outflows over the last seven days, with $374 million withdrawn, surpassing the $227 million in outflows from Grayscale’s GBTC.
The largest spot BTC fund, BlackRock’s IBIT, with over $20.91 billion in total inflows, remained neutral on the day, along with the eight remaining BTC ETFs.
Total daily trading volume for the 12 spot Bitcoin ETFs dropped to $1.35 billion on Sep. 5, down from $1.41 billion the previous day. At the time of writing, Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) was down 0.9% over the past day, trading at $56,327 per data from crypto.news.
Bitcoin’s price retreat happened as a sense of fear spread in the crypto industry. The closely watched crypto fear and greed index dropped to the extreme fear zone of 22, its lowest level in over a month, per <a href="https://alternative.me/crypto/fear-and-greed-index/" target="_blank" rel="noopener noreferrer nofollow">data </a>from Alternative. This fear is likely driven by ongoing concerns about a <a href="https://crypto.news/bitcoin-slips-below-57k-fear-and-greed-index-points-to-more-downside/" target="_blank" rel="noopener noreferrer nofollow">potential U.S. recession </a>following a string of weak economic data.
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Additionally, institutional demand for Bitcoin has weakened, with spot Bitcoin ETFs seeing outflows for seven consecutive trading days, shedding over $1 billion since Aug. 27.
Meanwhile, the nine spot Ether ETFs also showed bearish trends but with significantly smaller net outflows of $152.72K on Aug. 5 compared to the previous day, <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noopener noreferrer nofollow">according </a>to SoSoValue. Grayscale’s ETHE recorded $7.4 million in outflows, while the Grayscale Ethereum Mini Trust nearly offset this with $7.2 million in inflows.
The remaining seven spot ETH funds saw no activity on the day.
The total trading volume for the nine Ether ETFs fell to $108.59 million on Sep. 5 from $145.86 million on Sep. 4. At the time of publication, Ethereum’s (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) price dipped by 0.9%, exchanging hands at $2,378.
Ethereum’s fear and greed index also fell, reaching the <a href="https://ethereumfear.com/" target="_blank" rel="noopener noreferrer nofollow">fear zone of 34</a>, reflecting growing uncertainty and cautious sentiment among investors in the market.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitcoin-slips-below-57k-fear-and-greed-index-points-to-more-downside/"> Bitcoin slips below $57k, fear and greed index points to more downside </a>

Spot Bitcoin ETF outflows surge six-fold, Ether ETF outflows slow down

crypto.news

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