Fidelity‘s US-based spot Bitcoin $93,505.3 and Ethereum 
$3,317.9 Exchange-traded funds (ETFs) recorded the largest daily net outflows in their history on Wednesday. Spot named FBTC Bitcoin While its ETF attracted attention with an outflow of $258.7 million, the total negative flow reached $582.9 million. The company’s spot called FETH Ethereum Its ETF dominated the day with an outflow of $147.7 million.
Big Outflows in Spot Bitcoin ETFs Shook the Market
Fidelity’s spot Bitcoin ETF FBTCalone reported net outflows of $258.7 million on Wednesday. This led spot Bitcoin ETFs to reach a total of $582.9 million in negative flows.
BlackRock‘s bitcoin ETF called IBIT also experienced an outflow of more than $124 million, making it the third largest outflow in the fund’s history. In addition Ark and 21Shares‘s ARKB fund reported an outflow of $148.3 million, Valkyrie, Bitwise, invesco And Grayscale Funds of companies such as also experienced negative flows.
Spot Bitcoin ETFs in the US reached a total trading volume of $3.4 billion on Wednesday. However, despite the recent outflows, the cumulative total net inflow of the funds is at the level of 36.37 billion dollars. According to experts, investors are re-evaluating their positions in volatile market conditions.
Spot Ethereum ETFs Also Have Record Losses
Spot Ethereum ETFA similar picture was observed in . Fidelity’s spot Ethereum ETF FETH suffered its biggest loss in history, with a net outflow of $147.7 million. Total outflow from spot Ethereum ETFs on Wednesday reached $159.3 million. This marks the highest combined outflow for nine Ethereum ETFs in the US since July 26 last year. Grayscale’s ETHE and mini Ethereum funds also reported negative flows.
Trading volume for spot Ethereum ETFs fell to $458.6 million from $818.9 million the previous day. However, the total cumulative net inflow is at $2.52 billion. The current downward trend indicates that investors’ interest in Ethereum assets has temporarily decreased.
BTC It is currently trading at $93,349 and is priced with a 2.89 percent decrease in the last 24 hours. altcoin king ETH It is traded at 3 thousand 313 dollars and lost 1.78 percent in value in the same period. Whether outflows from ETFs will continue will be decisive for the short-term direction of the cryptocurrency market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
