U.S. Spot Bitcoin ETF Accumulated Total Value Falls to Lowest Since May 1
The value of U.S. spot bitcoin and spot ethereum ETFs hit a multi-month low, The Block reports. On Friday, the U.S. spot bitcoin ETF saw nearly $170 million in outflows, bringing the cumulative total value of the 12 funds in the market to $48.24 billion, marking the first time in a month that the value has fallen below $50 billion and the lowest cumulative value since May 1st.
While there were no inflows or outflows from BlackRock's IBIT fund, $53 million flowed out of second-ranked Grayscale's GBTC and $85 million flowed out of Fidelity's FBTC, Friday's highs. $14 million flowed out of Bitwise's BITB and $7 million flowed out of Ark & 21Shares ARKB. Grayscale's BTC Mini Trust and Valkyrie's BRRR both saw outflows of around $5 million. Total daily outflows amounted to nearly $170 million, marking the eighth consecutive session of outflows from bitcoin spot funds.
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