Net Outflow of $47.55 Million in US BTC and ETH Spot ETFs
CryptoNewsTerminal Staff20 Aug, 2024
Net Outflow of $47.55 Million in US BTC and ETH Spot ETFs
US Bitcoin and Ethereum spot ETFs saw significant net outflows on August 20. According to Lookonchain, the Bitcoin Spot ETF had net outflows of $16.16 million, while the Ethereum (ETH) Spot ETF recorded outflows of $31.39 million, resulting in a combined net outflow of $47.55 million. Grayscale's Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) also faced outflows, with GBTC losing $73.52 million and ETHE losing $28.22 million. These outflows suggest a reduction in investor demand for these ETFs, potentially due to market conditions, alternative investment options, or other factors.
