U.S. spot Bitcoin exchange-traded funds (ETFs) experienced a net outflow of $168.4 million on Monday as cryptocurrency markets experienced significant turmoil.
Among the 12 spot Bitcoin ETFs, Grayscale’s GBTC reportedly had a daily net outflow of $69.12 million. data At SoSoValue, Ark Invest and 21Shares’ ARKB followed closely behind with $69 million in outflows, while Fidelity’s Bitcoin fund reported a net outflow of $58 million.
The outflows were offset by a net inflow of $21.81 million into Grayscale’s latest Bitcoin trust, which launched last week. ETFs from VanEck and Bitwise also attracted about $3 million on Monday.
BlackRock’s IBIT, the largest spot Bitcoin ETF in terms of net asset value, saw zero inflows yesterday, along with Valkyrie, Invesco and three other funds. The 12 funds have accumulated a combined net inflow of $17.34 billion since January.
A total of $5.24 billion worth of funds were traded in spot Bitcoin ETFs on Monday, the largest volume since March 25 and likely due to the severe global market turmoil that occurred on Monday.
The major decline in global crypto and stock markets on Monday was triggered by several financial and macroeconomic factors. Macro issues that affected global stocks included rising tensions in the Middle East and weak U.S. economic data, while crypto-related factors such as the movement of assets by Jump Crypto and uncertainty surrounding the upcoming U.S. election further triggered the selloff in the crypto markets.
The value of Bitcoin briefly fell below $50,000, but has since recovered and is currently trading at $55,524. Bitcoin price page on the block. Ether’s price also recovered after plunging to lows of around $2,200 on Monday. Trade in $2,500.
Spot Ethereum ETFs Rise
Despite the market woes, spot ether ETFs reported net inflows of $48.73 million on Monday. BlackRock’s ETHA led the way with $47 million inflows, according to SoSoValue data. VanEck and Fidelity’s ether ETFs followed with net inflows of around $16 million, while Grayscale’s Ethereum Mini Trust saw inflows of $7.59 million. Funds from Bitwise and Franklin Templeton also saw net inflows.
Grayscale’s ETHE fund was the only ETF to report net outflows on Monday, with $46.84 million. Invesco and 21Shares’ funds had no inflows on the day. The total value traded on Monday was $715.61 million.
Spot ether ETFs that began trading last month saw net outflows of $461.98 million.
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