Key Points
- Spot Bitcoin ETFs in the US saw a significant decrease in net inflows on Sept. 16.
- Spot Ether ETFs experienced net outflows as bearish market sentiment prevailed.
On September 16, spot Bitcoin exchange-traded funds (ETFs) in the United States experienced a significant slowdown in net inflows.
Meanwhile, spot Ether ETFs saw yet another day of outflows, indicating a bearish market sentiment.
Bitcoin ETFs Inflows Slow Down
Data from SoSoValue shows that the 12 spot Bitcoin ETFs recorded net inflows of $12.9 million. This was a significant drop of 95% from the $263 million inflows seen the previous trading day.
BlackRock’s IBIT, the largest BTC ETF, led with $15.8 million in inflows. This came after 10 days without any positive flows for the fund.
Fidelity’s FBTC saw $5.1 million inflows. Interestingly, this ETF was the only fund to record net inflows for six consecutive days, with $223.1 million entering it over that period. Franklin Templeton’s EZBC also attracted $5 million.
VanEck’s HODL and Grayscale Bitcoin Mini Trust also reported net positive flows of $4.9 million and $2.8 million respectively.
However, Grayscale’s GBTC was the only spot Bitcoin ETF to report outflows, with $20.8 million exiting the fund. This resulted in total outflows of $20.06 billion since its launch. The other six BTC ETFs saw no trading activity.
The total trading volume for the 12 BTC ETFs fell to $1.1 billion on Sept. 16, a significant decline from the $1.82 billion the previous day. These funds have recorded a total net inflow of $17.31 billion since their launch. At the time of writing, Bitcoin (BTC) was trading at approximately $58,521.
Ethereum ETFs Experience Outflows
On the other hand, the nine U.S.-based spot Ethereum ETFs experienced net outflows of $9.51 million on Sept. 16. This followed a day of inflows.
Most of the daily net outflows came from Grayscale’s ETHE, with $13.8 million leaving its fund. Bitwise’s ETHW also saw $2.1 million in outflows.
These outflows were partially offset by BlackRock’s ETHA and Grayscale Ethereum Mini Trust, which recorded inflows of $4.2 million and $2.3 million respectively.
The trading volume for these investment vehicles also decreased, dropping to $128.02 million from $147.64 million the previous day. To date, the spot Ether ETFs have experienced a cumulative net outflow of $590.73 million. At the time of writing, Ethereum (ETH) was trading at $2,299.
