- U.S.-based spot Bitcoin ETFs logged nearly $170 million in outflows on Friday, reducing the total market value to $48.24 billion—the lowest since May 1.
- Ethereum ETFs hit their lowest value yet, with a 41% drop in total asset value to $6.09 billion after $6 million in outflows.
U.S.-based spot Bitcoin and Ethereum exchange-traded funds (ETFs) hit multi-month lows following a week of bearish price action across the cryptocurrency market. Only three of the top 50 tokens by market cap experienced gains, according to The Block’s price page, as the rest faced declines.
On Friday, spot Bitcoin ETFs recorded nearly $170 million in outflows, bringing the total value of the 12 funds to $48.24 billion—falling below $50 billion for the first time in a month and marking the lowest level since May 1. According to SoSoValue data, the market hadn’t seen such figures since February.
Leading the outflows was Fidelity's FBTC with $85 million, followed by Grayscale’s GBTC, which lost $53 million. Bitwise’s BITB and Ark & 21Shares ARKB also saw outflows of $14 million and $7 million, respectively. Valkyrie’s BRRR and Grayscale’s BTC Mini Trust both logged around $5 million in outflows. BlackRock’s IBIT fund, however, showed no inflows or outflows.
Ethereum funds also faced steep declines, reaching their lowest total asset value yet. Friday saw $6 million in outflows, bringing the total held by U.S.-based Ether ETFs to $6.09 billion—a 41% drop from the $10.24 billion logged on their first trading day. Grayscale’s ETHE saw $10 million in outflows, while BlackRock's ETHA registered $4.7 million in inflows.
Both Bitcoin and Ethereum ETFs have experienced consistent outflows, with Bitcoin funds seeing eight consecutive days of outflows, and Ethereum funds losing $91 million so far in September.
Edited by Harshajit Sarmah
Harshajit Sarmah
