Bitcoin ETFs lose $242M while Ethereum follows with $48M exit

U.S. spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) faced significant losses on Tuesday, with $242.53 million exiting after Bitcoin’s value dropped. 

Similarly, Ethereum-focused (CRYPTO:ETH) ETFs saw a loss of $48.52 million. 

According to data from sosovalue.xyz, Fidelity’s FBTC led the outflows for Bitcoin ETFs with a $144.67 million exit. 

Other notable losses included ARKB with $84.35 million and Grayscale’s GBTC, which saw $5.9 million withdrawn. 

Meanwhile, BlackRock’s IBIT gained $40.84 million, offering a bright spot in the otherwise tough trading day. 

Despite these outflows, the 12 U.S. spot Bitcoin ETFs still hold a combined inflow of $18.62 billion, representing 4.77% of Bitcoin’s market capitalization. 

Ethereum ETFs also struggled, with Grayscale’s ETHE losing $26.64 million, followed by Fidelity’s FETH, which dropped $24.97 million. 

Bitwise’s ETHW recorded a $895,650 loss. 

However, Vaneck’s ETHV and 21Shares’ CETH saw modest gains, bringing in $2.74 million and $1.25 million, respectively. 

Tuesday’s results pushed the total outflows for Ethereum ETFs to $572.31 million since July 23, with the funds now holding $6.81 billion in Ethereum reserves, which make up 2.31% of Ethereum’s total market value. 

Trading volumes for the day reached $2.53 billion for Bitcoin ETFs and $290.81 million for Ethereum ETFs. 

At the time of reporting, the Bitcoin price was $60,849.30, while the Ethereum price was $2,377.20.