Bitcoin and Ethereum Spot ETF Values Hit Multi-Month Lows

According to The Block, the value of US spot Bitcoin and Ethereum ETFs has hit multi-month lows. On Friday, US spot Bitcoin ETFs saw outflows of nearly $170 million, bringing the combined total value of the 12 funds on the market to $482.4 billion. This marks the first time the value has fallen below $500 billion in a month, and the lowest combined value since May 1st.

While BlackRock's IBIT fund saw no inflows or outflows, Grayscale's GBTC, the second-largest fund, saw outflows of $53 million, while Fidelity's FBTC saw outflows of $85 million, the highest for Friday. Bitwise's BITB saw outflows of $14 million, while Ark & 21Shares ARKB saw outflows of $7 million. Grayscale's BTC Mini Trust and Valkyrie's BRRR both saw outflows of approximately $5 million.

The total daily outflows of nearly $170 million mark the eighth consecutive trading day that Bitcoin spot funds have seen outflows.