US spot Bitcoin ETFs see $89.73M in daily net outflows

August 12, 2024
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US spot Bitcoin ETFs see $89.73M in daily net outflows

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US spot Bitcoin exchange-traded funds (ETFs) recorded a daily total outflow of $89.73 million on Aug. 9, with $55.11 billion in total net assets.

The US spot BTC ETFs saw an inflow of funds in just two days during the Aug. 5 to Aug. 9 week. (Source: SoSoValue)

The iShares Bitcoin Trust (IBIT) and Grayscale’s Bitcoin Mini Trust (BTC) were the only ETFs that experienced an inflow of $9.65 million and $15.61 million, respectively, according to the data from SoSoValue. Meanwhile, Grayscale Bitcoin Trust (GBTC), Fidelity Wise Origin Bitcoin Fund (FBTC), and Bitwise Bitcoin ETF (BITB) witnessed outflows amounting to $114.99 million.

A few days after the crypto sell-offs event that triggered a drop in Bitcoin’s values, the mainstream cryptocurrency was able to close its trade at $61,762 on Aug. 8. However, during the weekend, BTC closed its trade at $58,707 on Aug. 11. BTC is currently priced at $58,591.89, after falling by 4.4% in 24 hours, according to CoinGecko.

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