Spot Bitcoin exchange-traded funds in the United States recorded their third consecutive day of outflows this year, as Bitcoin fell below $90,000 amid a broader market risk-off sentiment.
According to data from SoSoValue, the 12 spot Bitcoin ETFs logged $284.19 million in net outflows on Jan. 13, extending their outflow streak to three days, during which over $1 billion exited the funds.
Fidelity’s FBTC led the outflows on Monday, with $113.64 million exiting the fund, followed by ARK 21Shares’ ARKB, which saw outflows of $92.36 million.
Grayscale’s GBTC and Bitwise’s BITB also contributed to the negative momentum, with investors withdrawing $89.01 million and $18.64 million from the funds, respectively.
Meanwhile, BlackRock’s IBIT stood out as the only exception, recording an inflow of $29.46 million. The remaining Bitcoin ETFs reported no flows on the day.
The total trading volume for the 12 Bitcoin ETFs was $3.17 billion, slightly lower than the $3.26 billion recorded the previous day.
The significant outflows recorded on Jan. 13 coincided with Bitcoin, the flagship cryptocurrency, briefly dipping below the $90,000 mark on Monday.
Crypto assets have been declining since last week following stronger-than-expected payroll numbers, which caused a spike in bond yields. Additionally, concerns over President-elect Donald Trump’s tariff plans boosted the dollar while putting pressure on Bitcoin and other risk assets.
At press time, Bitcoin (BTC) was up 1%, recovering above $95,000—a key support level for its potential move back above $100,000, as noted by multiple analysts.
Ethereum ETFs also face outflows
The nine Ethereum exchange-traded funds recorded their fourth consecutive day of outflows on Jan. 13, with $39.43 million withdrawn from the funds.
Grayscale’s Ethereum Mini Trust reported an outflow of $37.84 million the day with its GBTC fund also contributing to the negative momentum with $14.49 million exiting the fund.
BlackRock’s ETHA managed to offset some of the outflows with an inflow of $12.9 million observed on the day. The remaining ETF ETFs remained still on the day.
Ethereum (ETH) was down 1.9% trading at $3,175 when writing.
Read the full article here