The cryptocurrency market experienced a correction this week, with Bitcoin (BTC) accumulating a decline of over 5%, priced at $96,700 at the time of writing. Ethereum (ETH) fell nearly 15%, with a price of $3,330. Major cryptocurrency exchange-traded funds (ETFs) also saw a halt in the continuous inflow of funds amid the ongoing decline in the market.
According to data compiled by SoSoValue, the U.S. Bitcoin spot ETF recorded a net outflow of $680 million on Thursday, marking a new high for daily net outflows and ending a trend of 15 consecutive trading days of net inflows.
Daily fund flow of the U.S. Bitcoin spot ETF (Source: SoSoValue)
The highest net outflow amount was from the Fidelity-issued FBTC fund, totaling approximately $209 million, setting a new record for daily net outflows for that fund. Following this was the Grayscale Bitcoin Trust (BTC), with a net outflow of about $189 million, also reaching a new daily net outflow high. The largest iShares Bitcoin Trust (IBIT) showed zero net fund flow.
Among the 12 Bitcoin ETFs, only the WisdomTree-issued BTCW fund showed a net inflow on Thursday, amounting to $2.05 million. Additionally, the U.S. Ethereum spot ETF recorded a net outflow of $60.47 million on Thursday, ending a trend of 18 consecutive trading days of net inflows. The highest net outflow amount was from the Grayscale-issued ETHE fund, totaling $58.13 million.
Daily fund flow of the U.S. Ethereum spot ETF (Source: SoSoValue)
