Spot Bitcoin exchange-traded funds in the United States continued to see net outflows on Feb. 11, as BTC stayed below the $100K mark, briefly dipping under $95K.
According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $56.76 million in net outflows on Tuesday, extending their negative streak to two consecutive days with $186.28 million in outflows from the funds seen the previous day.
Fidelity’s FBTC led the outflows for the second day with $43.63 million leaving the fund. Franklin Templeton’s EZBC, Invesco Galaxy’s BTCO, Bitwise’s BITB and WisdomTree’s BTCW also contributed to the negative momentum with reported outflows of $11.03 million, $9.51 million, $9.32 million and $7.06 million respectively.
BlackRock’s IBIT stood out as the only outlier of the day, managing to offset some of the outflows by attracting $23.8 million from investors. The spot Bitcoin ETF has recorded total net inflows of over $40 billion since its launch.
The daily trading volume for these investment products reached $2.14 billion on Feb. 11, up from $1.84 billion the previous day.
You might also like: Key Bitcoin indicator turns bearish for the first time since October — Will this week’s U.S. economic data trigger more pain?
Ether ETFs resume inflows
While demand for spot Bitcoin ETFs seemed to have dwindled, Ethereum ETFs flipped back to net inflows on Feb. 11 drawing in $12.58 million from investors.
The entire flow came from BlackRock’s ETHA which saw $12.58 million enter the fund. The remaining ETH ETFs saw zero flows on the day.
The daily trading volume for these ETFs stood at $267.66 million on Tuesday higher than the $210.99 million recorded the previous trading day.
Notably, the mixed demand for BTC and ETH ETFs comes as investment managers continue to expand their holdings in these products. Goldman Sachs, for instance, has recently revealed that it has boosted its spot Ether ETF holdings by 2,000% in Q4 2024 while also increasing its Bitcoin ETF stash to over $1.5 billion.
At press time, Bitcoin (BTC) was trading at $95,834, down 2.5% over the past day, after briefly dipping below $95K earlier on Feb. 11. Meanwhile, Ethereum (ETH) saw even steeper losses, dropping 3.7% over the same period to $2,604.
Read more: Is Ethereum dead or gearing for a comeback? Deep dive into Ether
