U.S. spot bitcoin exchange-traded funds (ETFs) faced net outflows of $18.66 million on Tuesday, halting a two-day trend of positive inflows. According to data from SoSoValue, Fidelity’s FBTC was the primary driver of these outflows, with $48.82 million exiting the product. Grayscale’s GBTC, the second-largest spot bitcoin ETF by net assets, also experienced outflows of $9.41 million following a day of no flows.
In contrast, BlackRock’s IBIT, the largest spot bitcoin ETF, was the sole fund to report inflows, receiving $39.57 million. The remaining nine ETFs recorded zero inflows for the day. The total trading volume for the twelve bitcoin ETFs reached $1.35 billion on Tuesday, an increase from $1.22 billion on Monday.
In a related trend, U.S. spot Ethereum ETFs also recorded net outflows of $8.19 million on Tuesday, following a day of no flows. Bitwise’s ETHW experienced the largest outflows, with $4.54 million leaving the fund, while Fidelity’s FETH saw outflows of $3.65 million. The total trading volume for the nine Ethereum ETFs decreased to $102.37 million, down from $118.43 million the previous day.