Spot Bitcoin ETFs Keep Bleeding

New data from SoSoValue reveals that on September 5, the top 12 Bitcoin ETFs experienced significant outflows of $211.15 million, representing an increase of over six times compared to the previous day’s outflows of $37.29 million.

The majority of the outflows were led by Fidelity’s FBTC which saw $149.5 million leave the fund. Other notable outflows included Biwise’s BITB with $30 million, Grayscale’s GBTC with $23.2 million, and Grayscale Bitcoin Mini Trust with $8.4 million.

Interestingly, Fidelity’s FBTC also experienced the largest outflows over the past week, with a total of $374 million withdrawn.

This exceeded the $227 million in outflows from Grayscale’s GBTC, the second-highest outflow during the same period.

Meanwhile, the largest spot BTC fund, BlackRock’s IBIT, which has a total of $20.91 billion in inflows, remained unaffected on the day.