Key Points
- Spot Bitcoin ETFs in the U.S. continue to experience net outflows, with BTC price below $100K.
- Ethereum ETFs, on the other hand, saw net inflows, particularly from BlackRock’s ETHA.
Spot Bitcoin exchange-traded funds (ETFs) in the United States have continued to witness net outflows on February 11. This trend has been observed while Bitcoin’s price stayed below the $100,000 mark, even briefly falling under $95,000.
Data from SoSoValue shows that the 12 spot Bitcoin ETFs recorded $56.76 million in net outflows on that day. This extends their negative streak to two days, following $186.28 million in outflows from the funds the previous day.
Outflows from Bitcoin ETFs
Fidelity’s FBTC led the outflows for the second day, with $43.63 million exiting the fund. Other funds like Franklin Templeton’s EZBC, Invesco Galaxy’s BTCO, Bitwise’s BITB, and WisdomTree’s BTCW also contributed to this trend. They reported outflows of $11.03 million, $9.51 million, $9.32 million, and $7.06 million respectively.
On the other hand, BlackRock’s IBIT was the only outlier on that day. It managed to offset some of the outflows by attracting $23.8 million from investors. Since its launch, the spot Bitcoin ETF has recorded total net inflows of over $40 billion.
The daily trading volume for these investment products reached $2.14 billion on February 11, up from $1.84 billion the previous day.
Inflows into Ethereum ETFs
While demand for spot Bitcoin ETFs seemed to have dwindled, Ethereum ETFs flipped back to net inflows on February 11. They drew in $12.58 million from investors.
The entire inflow came from BlackRock’s ETHA, which saw $12.58 million enter the fund. The remaining Ethereum ETFs saw zero flows on that day.
The daily trading volume for these ETFs stood at $267.66 million on Tuesday, higher than the $210.99 million recorded the previous trading day.
This mixed demand for Bitcoin and Ethereum ETFs comes as investment managers continue to expand their holdings in these products. For example, Goldman Sachs recently revealed that it boosted its spot Ether ETF holdings by 2,000% in Q4 2024. It also increased its Bitcoin ETF stash to over $1.5 billion.
At the time of reporting, Bitcoin was trading at $95,834, down 2.5% over the past day, after briefly dipping below $95,000 earlier on February 11. Meanwhile, Ethereum saw even steeper losses, dropping 3.7% over the same period to $2,604.
