Spot Bitcoin ETFs in the US witnessed their largest single-day outflow in three months on August 2, with significant fund movements affecting major ETFs.
Points
- US spot Bitcoin ETFs recorded $237.45 million in outflows on August 2.
- The largest contributors to outflows were Fidelity, Ark Invest, and 21Shares.
- Grayscale’s Bitcoin Mini Trust and BlackRock’s IBIT saw inflows.
- The net asset value of ETFs remains high despite Bitcoin’s price decline.
- Ether ETFs also logged modest outflows, with Grayscale’s ETHE leading the way.
On August 2, US spot Bitcoin ETFs experienced their most significant single-day outflow in 90 days, totaling $237.45 million. This marked the largest outflow since May 1, which saw $563.77 million in outflows. According to SoSoValue data, this event is the fourth highest single-day outflow since the ETFs’ inception in January.
Grayscale’s Bitcoin Mini Trust （BTC） was one of the few ETFs to report an inflow, gaining $9.88 million. Another positive performer was BlackRock’s IBIT, which saw nearly $43 million in inflows. However, these gains were overshadowed by substantial outflows from other ETFs. Fidelity’s FBTC faced over $100 million in outflows, while Ark Invest and 21Shares’ ARKB lost around $81 million. Additionally, Grayscale’s GBTC, Bitwise’s BITB, and VanEck’s HODL each experienced sub-$50 million outflows. Five other funds recorded no change.
Despite the large outflows, the total trading volume remained typical, and the combined net asset value of these ETFs continues to hover near historical highs. This stability is noteworthy even as Bitcoin’s price trends towards the $60,000 mark.
Ether ETFs Log Modest Outflows
In parallel, Ether ETFs in the US logged a $54 million outflow on the same day. Despite being the smallest single-day outflow for these funds to date, it brings the total net assets of Ether ETFs to their lowest at $8.33 billion, down from a peak of $10.24 billion on their first trading day. Grayscale’s ETHE bore the brunt with $61 million in outflows, yet it still holds the highest net asset value among Ether ETFs at $6 billion. The total trading volume for Ether ETFs was also notably low at $438 million, especially when compared to Bitcoin ETFs’ $2.34 billion.
The data underscores the volatile nature of cryptocurrency investments and the diverse performance across different types of ETFs. Investors and market watchers should note these trends as they reflect broader market sentiments and potential future movements.
Conclusion
These developments highlight the ongoing fluctuations in the cryptocurrency market, affecting both Bitcoin and Ether ETFs. While Bitcoin ETFs saw significant outflows, their overall value remains robust. Conversely, Ether ETFs are seeing more modest outflows but still struggle to maintain their net asset value.
解説
- The significant outflows from Bitcoin ETFs indicate a possible shift in investor sentiment or profit-taking after recent market gains.
- Despite these outflows, the high net asset values suggest strong underlying confidence in Bitcoin’s long-term potential.
- Ether ETFs’ smaller outflows and lower net asset values reflect a more cautious approach from investors, possibly due to Ethereum’s different market dynamics and recent performance.
- Investors should monitor these ETF movements as they provide insights into broader market trends and potential investment opportunities.