Bitcoin ETF Inflows Streak Ends as $148.7M Exits Funds
The 9-day streak of net inflows into U.S. spot Bitcoin exchange-traded funds (ETFs) came to an end on Wednesday, with a combined $148.7 million in net outflows. This ended a run that had seen $3.1 billion in net inflows over the previous nine days.
BlackRock's IBIT product, which had seen $1.6 billion in net inflows over the previous nine days, was one of the funds that experienced net outflows, with $9.5 million exiting the fund. Fidelity's FBTC led the day's net outflows with $125.6 million, followed by Bitwise's BITB with $13.6 million.
U.S. spot Ethereum ETFs saw $59.6 million in net outflows on Wednesday, led by $26.6 million exiting Fidelity's FETH fund. The Ethereum funds have seen a net outflow streak of two days, following a prior seven-day, $850 million inflow streak.
The U.S. spot Bitcoin ETFs have generated over $57 billion in cumulative net inflows since their debut in January 2024 and $970 million year-to-date, with over $100 billion in assets under management.
Meanwhile, the spot price of Bitcoin whipsawed around the $84,000 level on Wednesday, as a softer-than-expected reading of the Federal Reserve's preferred PCE inflation gauge reduced expectations for another interest rate hike in October.