This week, the cryptocurrency market saw a correction, with Bitcoin (BTC) accumulating a drop of over 5% for the week, with a price of $96,700 before the deadline. Ethereum (ETH) also fell by nearly 15%, with a price of $3,330. Major cryptocurrency exchange-traded funds (ETFs) also interrupted the continuous inflow of funds in the coin market amid the ongoing decline.
According to data compiled by SoSoValue, the US Bitcoin spot ETF recorded a net outflow of $680 million on Thursday, setting a new record for single-day net outflows and ending a trend of 15 consecutive trading days of net inflows.
The fund with the highest net outflow was the FBTC fund issued by Fidelity, with an amount of approximately $209 million, setting a new record for single-day net outflows for the fund. This was followed by the Grayscale Bitcoin Mini Trust Fund (BTC), with an amount of approximately $189 million, also setting a new record for single-day net outflows. The largest fund, iShares Bitcoin Trust Fund (IBIT), showed zero net fund flow.
Among the 12 Bitcoin ETFs, only the BTCW fund issued by WisdomTree showed a net inflow on Thursday, with an amount of $2.05 million.
Additionally, the US 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 fund with the highest net outflow was the ETHE fund issued by Grayscale, with an amount of $58.13 million.
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Daily fund flow of the US Bitcoin spot ETF (Source: SoSoValue)
Daily fund flow of the US Ethereum spot ETF (Source: SoSoValue)