Bitcoin exchange-traded funds (ETFs) in the U.S. have continued their losing streak, with
$37.29 million in outflows on Wednesday, marking the sixth consecutive day of declines.
Grayscale Takes Biggest Hit
Grayscale’s Bitcoin Trust (GBTC) saw the largest outflow, losing
$34.25 million in a single day. Fidelity’s Bitcoin ETF (FBTC) also suffered with
$7.59 million in outflows, while VanEck’s HODL ETF saw
$4.91 million leave the fund. In contrast, Bitwise’s Bitcoin ETF (BITB) was the only one to see positive movement, gaining
$9.46 million in inflows.
Trading volume for all 12 U.S. Bitcoin ETFs dropped to
$1.41 billion, down from
$1.56 billion the previous day. Meanwhile, BlackRock’s IBIT, the largest Bitcoin ETF, and seven other ETFs reported no activity.
Ether ETFs Also Struggling
Ethereum ETFs also faced challenges, logging
$37.51 million in outflows. Grayscale’s Ethereum Trust (ETHE) led the losses with
$40.63 million exiting, though the Ethereum Mini Trust saw
$3.12 million in inflows.
Despite the outflows, Bitcoin managed a slight gain of
0.97%, reaching
$57,276, while Ether increased by
1.61% to
$2,417.
Read more at The Block.
