Fidelity’s FBTC sheds $197 million as ether ETFs log an eighth day of outflows

Most of the $244.13 million that left U.S. bitcoin ETFs on Thursday came from Fidelity’s spot bitcoin fund FBTC, which lost $197.09 million.

Ether funds declined for the eighth straight session.

Bitcoin funds lost $731.2 million across Wednesday and Thursday

Per Cryptopolitan calculations from SoSoValue data, FBTC alone accounted for about 81% of the day’s net outflow. The fund remains at $10.52 billion in cumulative net inflows and $14.55 billion in net assets.

Wednesday was even worse. According to Cryptopolitan, bitcoin funds registered outflows of $487.07 million that day, the highest one-day outflow since June 25.

BlackRock’s IBIT led the exit with $207.7 million.

IBIT fell $5.54 million Thursday. Ark and 21Shares’ ARKB lost $20.29 million, Bitwise’s BITB $17.71 million and Grayscale’s GBTC $8.20 million.

The only buyer was Franklin’s EZBC, at $4.71 million. Bitcoin funds traded $3.18 billion.

The group held $110.68 billion on Tuesday and $104.91 billion by Thursday’s close.

The two sessions cost bitcoin funds $731.2 million. Five-day outflows were $512.4 million and October is now down about $409.7 million after about $321.5 million of inflows in its first four sessions.

Cumulative net inflows since launch in January 2024 remain at $57.09 billion. Bitcoin changed hands at about $82,390 on Friday, 2.9% lower than a week earlier.

Streak losses since September 29 reach about $641 million

Ether ETFs lost $72.54 million Thursday. BlackRock’s ETHA took $71.12 million of it while Grayscale’s ETHE lost $6.12 million.

There were also redemptions for 21Shares’ TETH and VanEck’s ETHV. Fidelity’s FETH drew in $5.50 million and Morgan Stanley’s MSSE $1.32 million.

The run commenced with an outflow of $2.81 million on September 29. Eight daily outflows now total about $641 million, with $160.77 million gone Wednesday and $201.89 million on Tuesday.

Cryptopolitan tracked the streak through six sessions when it was at around $408 million.

Ether funds traded $1.92 billion and have $15.64 billion, 5.17% of ether’s market cap. ETH fell about 7.4% in seven days, to around $2,485.

Counting both coins, the two-day exit comes to about $964.5 million.

XRP ETFs bucked the trend with $8.17 million, all through Franklin’s XRPZ. They have $1.56 billion.

Bitwise’s NEAR fund NRR, launched last week, brought in $4.04 million in new capital. NRR’s $59.86 million equals about 1% of NEAR’s market value.

Grayscale’s ZCSH sustained $18.66 million in Zcash ETF outflows, with $655.95 million in net assets left. HYPE funds lost $9.70 million through 21Shares’ THYP.

Solana ETFs saw outflows of $3.32 million, the fourth day in a row of outflows.

Treasury yields and oil prices have been mounting and the dollar has strengthened. A Thai framework for bitcoin and ether funds listed in Bangkok kicks in on October 16.