U.S. spot bitcoin ETFs saw net outflows of $127.05 million on August 28, led by ARK 21Shares’ ARKB fund.
Data Data from SoSoValue indicates that the 12 U.S.-based bitcoin exchange-traded funds saw net outflows on August 28, breaking an eight-day streak of positive inflows. During that eight-day period, these funds attracted $756 million in inflows.
On Tuesday, US spot bitcoin funds saw net outflows of $127.05 million. Notably, ARK 21Shares’ ARKB fund led the outflows with negative inflows of $101.97 million — its largest outflow to date, according to SoSoValue data. Grayscale’s GBTC fund reported net outflows of $18.32 million, while Bitwise’s BITB fund saw outflows of $6.76 million. Valkyrie’s BRRR has not been updated at the time of writing.
Meanwhile, the remaining eight funds, including BlackRock’s IBIT, saw no inflows on the day. Excluding BRRR, the total trading volume of U.S. spot bitcoin funds was $1.2 billion. Since January, these funds have collectively seen net inflows of $17.95 billion.
At the same time, the broader market is witnessing developments that may affect investor behavior.
Nasdaq has filed an application with the U.S. Securities and Exchange Commission to list bitcoin index options, which will track the price of bitcoin via the CME CF Bitcoin Real-Time Index. The move, which is pending regulatory approval, aims to improve market transparency and provide investors with better tools to manage and hedge their crypto positions.
Additionally, CME Group is planning to launch smaller-sized bitcoin futures contracts, which could attract retail investors.
At the time of writing, Bitcoin (BTC) is down 5.8% over the past day, trading at $59,160, according to data from crypto.news.
Ether ETFs Continue to See Outflows
Meanwhile, the nine-position Ethereum ETFs collectively saw a significant drop in outflows, which amounted to $3.45 million On August 28, the ninth consecutive day of outflows.
Grayscale’s ETHE token led the outflows once again, with $9.2 million leaving the fund, bringing its total outflows to $2.55 billion since its launch on July 23. Meanwhile, Fidelity’s FETH and Bitwise’s ETHW were the only two offerings to record inflows, with $3.9 million and $1.9 million, respectively. The remaining six ETH funds saw no inflows on the day.
These investment vehicles also saw their daily trading volume rise to $129.9 million on August 28, an increase from the previous day. Ethereum ETFs have seen cumulative net inflows of $481.32 million to date. At press time, Ethereum (ETH) was also down 8%, trading at $2,463.
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