On September 18, spot Bitcoin exchange-traded funds (ETFs) in the U.S. recorded net outflows of $52.83 million, marking the end of a four-day streak of inflows that had brought in over $500 million.
According to data from SoSoValue, the majority of these outflows were driven by ARK 21Shares’s ARKB, which saw $43.4 million leave its fund. Grayscale’s GBTC and Bitwise’s BITB also reported outflows of $8.1 million and $3.9 million, respectively.
In contrast, Grayscale Bitcoin Mini Trust was the sole spot Bitcoin fund to experience inflows on that day, attracting $2.7 million. The other eight spot Bitcoin ETFs, including BlackRock’s IBIT, remained neutral.
Total trading volume for these products decreased by 28%, dropping from $2.27 billion on September 17 to $1.63 billion on September 18. Since their inception, these funds have collectively seen a net inflow of $17.44 billion.
In the broader market, Bitcoin rose by 3% over the past 24 hours, reaching $62,109 at the time of writing. This price increase follows the Federal Open Market Committee’s decision to cut interest rates by 50 basis points, which typically enhances demand for risk assets like Bitcoin.
Spot Ethereum ETFs Experience Third Consecutive Day of Outflows
In a related trend, nine U.S.-based spot Ethereum ETFs reported net outflows of $9.74 million on September 18, continuing a three-day streak of withdrawals. All of these outflows originated from Grayscale’s ETHE, which saw $14.7 million exit its fund.
However, the outflows were partially mitigated by BlackRock’s ETHA, which logged inflows of $4.9 million. The remaining seven Ethereum ETFs remained neutral on the day.
Trading volume for these Ethereum investment vehicles increased to $221.88 million, up from $176.26 million the previous day. To date, the spot Ethereum ETFs have experienced cumulative net outflows of $615.58 million. At the time of publication, Ethereum was trading at $2,438, reflecting a 4.8% rise.