US Bitcoin ETFs Face Major Outflows, BlackRock Sees Inflows

US spot Bitcoin ETFs (exchange-traded funds) experienced their most significant net outflows yesterday since September 3, with $242.6 million exiting these investment vehicles.

This marked the end of an 8-day period of inflows, based on data from SoSoValue. The decline followed a 6% drop in BTC’s value amid escalating geopolitical tensions in the Middle East following Iran’s launch of ballistic missiles at Israel.

BlackRock’s IBIT The Sole Fund Among The 12 US Spot Bitcoin ETFs To Register Inflows

Amid the overall sell-off, BlackRock’s IBIT ETF distinguished itself as the only fund to report positive inflows, seeing an addition of $40.84 million during the trading day.

Fidelity’s FBTC experienced the highest net outflows during Tuesday’s trading period, with $144.67 million withdrawn from the fund. Meanwhile, ARKB, the spot Bitcoin ETF from Ark and 21Shares, recorded the second-largest net outflows and its worst totals since August 27, with $84.35 million leaving its reserves.

Funds from Bitwise, VanEck, and Grayscale all showed net outflows yesterday. Investors withdrew $32.7 million from Bitwise’s BITB, while VanEck’s spot Bitcoin ETF faced $15.75 million in net outflows. Additionally, Grayscale’s GBTC saw a decrease of $5.9 million.

Alongside its spot Bitcoin ETF recording the highest outflows among the 12 funds, Fidelity’s Ethereum Fund (FETH) also marked a record in daily outflows.

Data from Farside Investors reported that $25 million exited FETH on October 1, representing the highest daily outflows recorded across all US spot ETH ETFs, except for Grayscale’s ETHE.

Ethereum ETF Flow (US$ million) – 2024-10-01

TOTAL NET FLOW: -48.6

ETHA: 0
FETH: -25
ETHW: -0.9
CETH: 1.2
ETHV: 2.7
QETH: 0
EZET: 0
ETHE: -26.6
ETH: 0

For all the data & disclaimers visit:https://t.co/FppgUwAthD

— Farside Investors (@FarsideUK) October 2, 2024

As a collective, the funds exhibited a similar flow pattern to their Bitcoin counterparts, recording $48.6 million in outflows across the 9 issuers.

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