Spot Bitcoin exchange-traded funds in the United States recorded their third straight day of outflows this year, as Bitcoin fell below $90,000 amid broader market risk sentiment.
According to facts from SoSoValue, the 12 spot Bitcoin ETFs recorded net outflows of $284.19 million on January 13, extending their outflow streak to three days during which more than $1 billion disappeared from the funds.
Fidelity’s FBTC led the outflows on Monday, with $113.64 million outflowing from 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 pulling $89.01 million and $18.64 million from the funds, respectively.
Meanwhile, BlackRock’s IBIT was the lone exception, with inflows of $29.46 million. The remaining Bitcoin ETFs reported no flows that day.
Total trading volume for the twelve Bitcoin ETFs was $3.17 billion, slightly lower than the $3.26 billion recorded the day before.
The significant outflows recorded on January 13 coincided with Bitcoin, the flagship cryptocurrency, briefly falling below the $90,000 mark on Monday.
Crypto assets have fallen since last week due to stronger-than-expected payroll numbers, which caused a spike in bond yields. Additionally, concerns about newly elected President Donald Trump’s pricing plans boosted the dollar while putting pressure on Bitcoin and other risk assets.
At the time of writing, Bitcoin (BTC) was up 1% and rebounding above $95,000 – a key support level for its potential return to above $100,000, as noted by multiple analysts.
Ethereum ETFs are also facing outflows
The nine exchange-traded Ethereum funds recorded their fourth consecutive day of outflows on January 13, with $39.43 million withdrawn from the funds.
Grayscale’s Ethereum Mini Trust reported outflows of $37.84 million per day, with its GBTC fund also adding to the negative momentum with $14.49 million leaving the fund.
BlackRock’s ETHA managed to offset some of the outflows with an inflow of $12.9 million seen that day. The remaining ETF ETFs remained unchanged on the day.
Ethereum (ETH) fell 1.9% to $3,175 at the time of writing.
