US Spot Bitcoin ETFs Record $52.83 Million in Net Withdrawals

Ark Invest and 21Shares ARKB suffered the most withdrawals yesterday, at $43.41M.
Bitcoin price increased 6.25% on the previous day to $63,195 at the time of writing.

On Wednesday, spot bitcoin exchange-traded funds in the United States recorded net withdrawals of $52.83 million, capping four days in a row of net inflows totaling more than half a billion dollars.

SoSoValue data indicates that Ark Invest and 21Shares ARKB suffered the most withdrawals yesterday, at $43.41 million. Bitwises BITB posted withdrawals of $3.95 million on Wednesday, while Grayscales GBTC reported net outflows of $8.13 million.

Yesterday, just one spot bitcoin fundGrayscales Bitcoin Mini Trustreported net inflows. It brought in a little $2.66 million. Zero daily flows were seen in the remaining eight funds, which included BlackRocks IBIT. The 12 funds saw $1.63 billion in daily transaction activity on Wednesday and $17.44 billion in net inflows overall.

Similar Case with Spot Ether ETFs

Three days in a row, net withdrawals were recorded by just two of the nine funds in the spot ether ETFs, which totaled $9.74 million. Around $14.66 million was taken out of Grayscales ETHE fund, while $4.92 million was added to BlackRocks ETHA ETF.

The overall daily trading volume for the nine ether funds increased to $221.88 million from $176.26 million on Tuesday. The ETFs have accumulated a $615.58 million net outflow since their July inception.

According to data from CMC, bitcoin price increased 6.25% on the previous day to $63,195 at the time of writing. Moreover, Ethereum traded at $2443, up 6.40% in the last 24 hours. This surge is in response to market reactions to the highly anticipated Federal Open Market Committees most recent meeting, which saw interest rates slashed by 50 basis points.

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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M

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