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Bitcoin ETFs Bleed $242M While Ethereum Funds Follow With $48M in Losses

On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) saw $242.53 million exit, following a sharp drop in bitcoin’s value. Similarly, the nine spot ethereum ETFs experienced a loss of $48.52 million in the day’s trading.

Fidelity and Grayscale Lead the Pack in Tuesday’s ETF Outflows

After a series of positive inflows, the 12 U.S. spot bitcoin ETFs hit a roadblock on Tuesday. According to sosovalue.xyz metrics, $242.53 million flowed out, with Fidelity’s FBTC leading the pack by shedding $144.67 million. ARKB followed with a $84.35 million loss, BITB saw $32.7 million exit, HODL faced a $15.75 million withdrawal, and Grayscale’s GBTC recorded a $5.9 million loss.

The bright spot was Blackrock’s IBIT, which managed to capture $40.84 million in gains, helping to counterbalance some of the overall losses. The remaining six funds didn’t see much action, ending the day with neither gains nor losses. Despite Tuesday’s setbacks, the 12 funds still hold a combined net inflow of $18.62 billion and collectively account for $57.36 billion in bitcoin reserves, representing 4.77% of bitcoin’s market capitalization.

Meanwhile, the nine ethereum ETFs didn’t fare much better, with $48.52 million exiting on Tuesday. Grayscale’s ETHE led the losses with $26.64 million, followed by Fidelity’s FETH, which lost $24.97 million. Rounding out the day, Bitwise’s ETHW saw a $895,650 loss. However, not all funds were in the red—Vaneck’s ETHV pulled in $2.74 million, while 21shares’ CETH gained $1.25 million.

The rest of the ether funds saw a quiet day with no notable gains or losses. Tuesday’s losses brought the nine ethereum ETFs to a cumulative net outflow of $572.31 million since July 23. Together, the funds now hold $6.81 billion in ether reserves, which account for 2.31% of ethereum’s total market value. The day saw $2.53 billion in trade volume for bitcoin ETFs and $290.81 million for ethereum ETFs. At 8 a.m. EDT on Wednesday, bitcoin was trading at $60,948, while ethereum was priced at $2,450.

Source: https://news.bitcoin.com/bitcoin-etfs-bleed-242m-while-ethereum-funds-follow-with-48m-in-losses/