Bitcoin ETF Outflows Hit $812M, Ether ETF Streak Ends
Bitcoin ETF Outflows Surge
Spot Bitcoin exchange-traded funds (ETFs) faced significant headwinds on Friday, with $812.25 million in net outflows. This marks the second-largest single-day loss ever for these investment products.
The substantial drawdown reversed a week of positive momentum, reducing cumulative net inflows to $54.18 billion. Total assets under management decreased to $146.48 billion, representing 6.46% of Bitcoin’s (BTC) market capitalization, according to SoSoValue.
Key Players and Their Performance:
- Fidelity’s FBTC: Led the outflows with $331.42 million in redemptions.
- ARK Invest’s ARKB: Experienced a significant pullback of $327.93 million.
- Grayscale’s GBTC: Lost $66.79 million.
- BlackRock’s IBIT: Saw a minor loss of $2.58 million.
Despite the outflows, trading volumes remained high, with $6.13 billion in value exchanged across all spot Bitcoin ETFs. IBIT accounted for $4.54 billion of this volume, indicating ongoing investor interest.
Ether ETFs See Inflow Streak Terminated
Ether ETFs concluded their longest inflow streak, ending 20 consecutive days of net inflows. Friday saw a $152.26 million outflow, bringing total assets under management to $20.11 billion, or 4.70% of Ether’s (ETH) market cap.
Performance Details:
- Grayscale’s ETHE: Led the losses with $47.68 million in outflows.
- Bitwise’s ETHW: Followed with a $40.30 million drop.
- Fidelity’s FETH: Posted $6.17 million in outflows.
- BlackRock’s ETHA: Remained flat, holding steady with $10.71 billion in assets and no inflows or outflows.
The total value traded across all spot Ethereum ETFs was $2.26 billion. Grayscale’s ETH product contributed the most with $288.96 million in daily trades.
Corporations Increasing Ether Holdings
Standard Chartered reports that corporations are acquiring Ether at twice the rate of Bitcoin. Since June, crypto treasury firms have accumulated approximately 1% of Ethereum’s total circulating supply.
This accumulation, combined with consistent inflows into US spot Ether ETFs, has fueled Ether’s recent price rally. The bank projects that these trends could potentially push ETH above its $4,000 price target by year-end.
Looking forward, Ethereum treasury holdings could reach as much as 10% of the total supply, boosted by staking and DeFi opportunities.
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