Trading Volume for Nine Spot Ether ETFs Drops from $151.57M to $95.91M in One Day

The trading volume of nine spot Ether funds saw a significant drop of $55.66 million on Thursday, according to data from Sosovalue. Of the nine U.S. ETH spot market values presented on the Sosovalue platform, seven experienced no flow movements. However, the overall market witnessed a notable decline from $151.57 million to $95.91 million.

On a positive note, the Grayscale Ethereum Mini Trust (ETH) recorded a net inflow of $3.57 million, indicating positive investor sentiment. Despite this, the inflow was outweighed by the Grayscale Ethereum Trust’s outflow of $5.35 million, resulting in a negative net trading value of $1.77 million for U.S. spot Ethereum ETFs.

In contrast, U.S. spot Bitcoin funds continued their outflow streak for the third consecutive day, with net outflows totaling $72.73 million. The ongoing outflows from spot BTC funds seemed to impact BlackRock’s IBIT, the largest spot BTC ETF by net assets. For the first time in three months, BlackRock’s IBIT recorded a net outflow of $13.51 million, leading to negative flow for Bitcoin ETF holders.

Grayscale’s GBTC fund saw $22.68 million in outflows on Thursday, marking a successive day of outflows for the fund. Fidelity’s FBTC and Bitwise’s BITB also experienced outflows, with net outflows of $31.11 million and $8.09 million, respectively. Valkyrie’s BRRR fund joined the trend, with an outflow of $1.68 million. However, Ark and 21 Shares’ ARKB fund stood out with net inflows of $5.38 million, making it the only BTC ETF to register positive net inflows on Thursday.