Spot Bitcoin ETFs Net Outflows Of $43 Million On Wednesday

the US spot Bitcoin ETFs saw net outflows of $43.97 million, breaking their two-day inflow streak.

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The US spot Bitcoin ETFs shifted direction and saw net outflows of $43.97 million on Wednesday, breaking their two-day streak of inflows.

The ARK 21Shares ETF (NYSE:ARKB) led the outflows with a net outflow of $54.03 million. The ETF, which began trading on March 30, now has net inflows of $2.23 billion. Grayscale's Bitcoin Trust (NYSE:BTC) came in second with net outflows of $4.59 million. The trust, which started trading on October 19, 2021, now has net outflows of $4.03 billion.

Two ETFs, Fidelity's Block Chain Capital ETF (NYSE:FBTC) and Invesco Galaxy's Digital Assets ETF (NYSE:BTCO), saw net inflows for the day. FBTC saw the largest daily inflows with $12.6 million, bringing its net inflows to $9.52 billion.

The daily trading volume for the 12 BTC ETFs surged to $1.2 billion on Wednesday from $712.25 million on Tuesday. The ETFs have amassed $16.99 billion in net inflows.

The Ethereum-based ETFs also saw net outflows of $542,870 on Wednesday. Only two Ether ETFs experienced flows for the day, while the remaining seven products had zero net flows.

Fidelity's ProShares UltraShort Ether ETF (NYSE:FETH) was the only ETF with net positive flows for the day. The ETF saw a total of $1.2 million in net inflows.

The daily trade volume for the Ether ETFs rose to $126.22 million on Wednesday from $102.87 million the previous day. The products have a total of $562.06 million in net outflows.