U.S. Spot Bitcoin ETFs Record Second Consecutive Day of Net Outflows Despite IBIT Inflows

U.S. spot Bitcoin exchange-traded funds recorded their second consecutive day of net outflows on Oct. 9, with $30.59 million exiting the funds.

U.S. spot Bitcoin exchange-traded funds recorded their second consecutive day of net outflows on Oct. 9, with $30.59 million exiting the funds.

These outflows were partially offset by BlackRock’s IBIT, which reported inflows of $13.88 million on the same day, marking its second day of inflows.

Cumulatively, U.S. spot Bitcoin ETFs have drawn in a net total of $18.68 billion since their inception.

In contrast to Bitcoin, the spot Ethereum ETFs saw a quiet day. According to SoSoValue data, the nine spot Ethereum ETFs in the U.S. recorded zero inflows on Oct. 9.

However, according to Bitwise CIO Matt Hougan, the slow start of spot Ethereum ETFs is largely due to traditional investors still getting accustomed to the crypto market when the products were launched.