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Spot Bitcoin exchange-traded funds in the United States saw inflows for the first day following eight consecutive days of outflows that shed over $1.18 billion from their total assets under management, signaling a potential shift in investor sentiment.
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 exchange-traded funds recorded $28.6 million in net inflows on Sep. 9, a break from the <a href="https://crypto.news/bitcoin-etfs-see-706m-in-outflows-blackrock-and-wisdomtree-buck-trend/" target="_blank" rel="noopener noreferrer nofollow">eight-day outflow streak</a> recorded earlier.
Fidelity’s FBTC led the charge with reported inflows of $28.6 million, bringing its total inflows from inception to $9.45 billion. This follows after the fund experienced negative flows for the past seven trading days.
<a href="https://crypto.news/tag/bitwise/" target="_blank" rel="noopener noreferrer nofollow">Bitwise</a>’s BITB and ARK 21Shares’s ARKB followed next with inflows of $22 million and $6.8 million, respectively. Meanwhile, Invesco’s BTCO logged more modest inflows of $3.1 million following three days of no trading activity.
These inflows were offset by Grayscale’s GBTC, which logged outflows of $22.8 million, bringing its total outflows from its launch date to over $20 billion. Interestingly, BlackRock’s IBIT, the largest spot BTC ETF by net assets also shed $9.1 million in outflows on the day. The remaining six Bitcoin ETFs remained neutral.
Total trading volume for the 12 BTC ETFs dropped to $1.61 billion on Sep. 9, significantly lower than the $2.39 billion seen the previous day. These funds have recorded a cumulative net inflow of $16.92 billion since inception. At the time of writing, Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) was up 4.2% over the past day, trading at $56,915, per data from crypto.news.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitcoin-could-soar-by-62-if-this-happens-wall-street-analyst/"> Bitcoin could soar by 62% if this happens: Wall Street analyst </a>
Meanwhile, the nine-spot Ethereum ETFs logged in net outflows of <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noopener noreferrer nofollow">$5.2 million </a>on Sep. 9 following four consecutive days of net negative flows.
Grayscale’s ETHE led the outflows once again, with $22.6 million exiting the fund, bringing its total outflows to the $2.69 billion mark since its launch on July 23. Meanwhile, Fidelity’s FETH, Grayscale’s ETH, and Biwise’s ETHW were the only offerings to record inflows of $7.6 million, $8 million, and $1.8 million, respectively. The remaining five ETH ETFs saw no flows on the day.
These investment vehicles have also seen their daily trading volume drop to $124.51 million on Sep. 9, a major drop over the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $573.49 million to date. At the time of publication, Ethereum (<a href="https://crypto.news/price/ethereum" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) was also up by 2.6%, exchanging hands at $2,345.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitcoin-to-reach-13m-in-21-years-michael-saylor-predicts/"> Bitcoin to reach $13m in 21 years, Michael Saylor predicts </a>

Spot Bitcoin ETFs end 8-day outflows streak, Ether ETFs lose $5.2m

crypto.news

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