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Spot Bitcoin and Ether exchange-traded funds (ETFs) recorded notable outflows over the past few days, continuing a trend of withdrawals.
On Oct. 3, US spot Bitcoin funds recorded their third consecutive day of net outflows, totaling $361.2M over the period. According to Spotonchain, there was $54.13M in withdrawals on Thursday alone, following $91.76M in outflows the day before.
ARK 21Shares' ARKB Led
BTC ETFs Outflow
ARK 21Shares' ARKB fund experienced the largest outflows, losing $57.97M on Oct. 3. This marked the fund's fourth straight day of withdrawals, with $212.1M exiting the ETF so far this week.
Fidelity's FBTC followed with $37.21M in outflows, although it had seen some positive inflows earlier in the week. Despite the broader trend of negative flows, BlackRock's IBIT, the largest spot Bitcoin fund by total net assets, attracted $35.96M in inflows on Oct. 3.
This latest milestone brings IBIT's total net assets to $21.5B since its launch. In addition, Bitwise's BITB and Invesco's BTCO ETFs posted inflows of $2.65M and $2.44M, respectively.
The remaining US spot Bitcoin ETFs were neutral on this day. Meanwhile, total trading volume across the twelve Bitcoin ETFs dropped significantly, hitting $1.13B on Oct. 3.
Nevertheless, these funds have attracted a net inflow of $18.47B since their inception. At the time of writing, BTC was trading at $61,213, gaining 0.75% within the last day.
Spot Ether ETFs Also Suffered Similar Fate
Similarly, US Ether ETFs posted $3.2M in net daily outflows on Oct. 3, driven primarily by Grayscale's ETHE, which recorded $14.69M exiting the fund. Fidelity's FETH also experienced a relatively smaller outflow of $587,090.
On the other hand, BlackRock's Ethereum Trust (ETHA) mitigated some of the losses, receiving $12.08M in inflows. The six remaining US spot Ether funds recorded activity for the day.
Ether ETF trading volumes also declined, with the nine listed funds recording $115.66M in volume on Oct. 3, down from $197.82M the previous day. Since their July launch, US-listed Ether funds have accumulated $561.05M in total outflows.
At the time of writing, ETH was trading at $2,381, indicating a 0.81% rise in the last 24 hours.
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