This week started with significant outflows from U.S. spot Bitcoin and Ether exchange-traded funds (ETFs). On Tuesday, September 3, Bitcoin ETFs recorded a collective withdrawal of $287.78 million, while Ether ETFs saw $47.40 million in outflows, marking a challenging start for both digital assets.
Bitcoin ETFs Face Notable Losses
The 12 Bitcoin ETFs experienced substantial outflows, with a total of $287.78 million withdrawn on Tuesday. Fidelity’s FBTC fund took the largest hit, losing $162.62 million. Grayscale’s GBTC followed, seeing $50.39 million pulled from the fund, and Ark Invest’s and 21shares’ ARKB ETF lost $33.6 million, according to data from Sosovalue.xyz.
Other funds also faced losses, including:
- Bitwise’s BITB, which saw $24.96 million withdrawn,
- Franklin Templeton’s EZBC, down by $8.41 million,
- Vaneck’s HODL, experiencing a $3.28 million outflow,
- Valkyrie’s BRRR, which dropped $2.55 million,
- Invesco’s and Galaxy’s BTCO, reporting a $2.32 million reduction.
However, not all funds were affected. Blackrock’s IBIT, Wisdomtree’s BTCW, and Hashdex’s DEFI remained steady with no inflows or outflows reported.
These outflows reduced the total net inflows for Bitcoin ETFs to $17.31 billion, with the 12 funds collectively holding $52.69 billion worth of Bitcoin. This represents approximately 4.58% of Bitcoin’s total market capitalization.
Ether ETFs Experience Declines
Ether ETFs also faced a difficult trading day, with $47.40 million withdrawn from the nine funds. Grayscale’s ETHE led the outflows, seeing $52.31 million leave the fund. However, Fidelity’s FETH ETF managed to secure a positive result, gaining $4.91 million.
Since July 23, Ether ETFs have experienced cumulative net outflows of $524.65 million. The group of nine Ether ETFs currently holds $6.76 billion in assets, representing 2.28% of Ethereum’s market capitalization.
