U.S. spot bitcoin exchange-traded funds (ETFs) recorded a net outflow of $211.15 million on Thursday, marking the seventh straight day of zero outflows.
Fidelity’s FBTC had the largest outflows among spot Bitcoin ETFs, at $149.49 million. data At SoSoValue, Bitwise’s BITB followed with a net outflow of $30 million. Grayscale’s GBTC and mini trusts both saw outflows on Thursday, with $23.22 million flowing out of GBTC, while $8.45 million flowed out of the mini trust from the ETF.
No funds recorded net inflows yesterday. Eight other funds, including BlackRock’s IBIT, saw no inflows that day.
The total daily volume of the 12 ETFs fell further to $1.35 billion from $1.41 billion on Wednesday. Spot Bitcoin funds have attracted a total of $17.06 billion in net inflows since their launch in January.
Ether ETFs are virtually unchanged
The US spot Ethereum ETF saw relatively little movement on Thursday, with net outflows of around $152,720.
Net inflows were only observed in Grayscale’s two ether funds. ETHE reported net outflows of $7.39 million, while Ethereum Mini Trust recorded net inflows of $7.24 million. The other seven ETFs saw no inflows at all on Thursday.
The Ether fund also recorded a daily volume of $108.59 million on Thursday, down from $145.86 million the previous day. The fund has accumulated a total of $562.31 million in net outflows since its listing in July.
Meanwhile, global markets are currently awaiting U.S. nonfarm payrolls data, a key indicator of the country’s economic health, due out on Friday.
“The reaction to the NFP will be nuanced and dependent on the specifics,” said Augustine Pan, director of insights at SOFA.org. “The ideal case for stocks and BTC is a reading that is weak enough, but not so weak that it would trigger concerns of an impending recession, that the Fed would still view it as ahead of the economic trajectory or ‘appropriate.’”
Bitcoin price was trading at $56,665, down 0.91% over the past 24 hours, while Ether was trading at $2,392, down 0.8%. The Block’s Cryptocurrency Price Page.
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