Bitcoin ETFs Lose Steam, While Ether ETFs See Surging Demand
US spot Bitcoin exchange-traded funds (ETFs) saw significant outflows last week, reversing after three consecutive weeks of inflows. According to Farside Investors, these withdrawals totaled $462.7 million across four trading sessions from Tuesday to Friday.
The selling pressure intensified on Thursday, when US spot Bitcoin ETFs recorded their largest daily withdrawal since July with a net outflow of $282.7 million. Friday's outflows slowed to $13.2 million but still extended the negative streak to four trading days.
ARK 21Shares Bitcoin ETF led weekly withdrawals with $234.2 million in net outflows, followed by Grayscale's Bitcoin Trust ETF with $129.1 million and BlackRock's iShares Bitcoin Trust ETF with $52.5 million. Fidelity's Wise Origin Bitcoin Fund lost $50.7 million.
Despite the weekly reversal, spot Bitcoin ETFs remain in positive flow territory for September, with about $307.3 million in net inflows through Friday.