From Cointelegraph · By Helen Partz
US spot Bitcoin exchange-traded funds (ETFs) returned to net outflows for the week on Wednesday as BTC fell below $82,000.
Bitcoin ETFs recorded about $262 million in outflows on Wednesday, reversing $176 million in inflows the day before, according to SoSoValue data. The latest withdrawals brought this week’s net outflows to $151 million through Wednesday. The funds logged $681 million in net outflows last week.
Weekly flows in US spot Bitcoin ETFs. Source: SoSoValue
The outflows came as Bitcoin continued to decline after falling below $82,000 following Wednesday’s US inflation report. Bitcoin traded at about $80,741 at the time of publication, down 3.2% over the past 24 hours, according to CoinGecko.
ETFs tracking Ether (ETH), Solana (SOL) and Zcash (ZEC) also recorded net outflows for the week through Wednesday. Ether ETFs shed around $130 million on Wednesday, bringing weekly outflows to $190 million. The funds recorded net outflows of $542 million last week and $138 million the week before.
Solana ETFs recorded $1.3 million in outflows Wednesday, extending their outflow streak to eight trading sessions, with $3 million in withdrawals this week. Zcash ETFs attracted $3.7 million on Wednesday but remained negative for the week, with $3.2 million in outflows.
XRP ETFs bucked the trend, attracting about $740,000 on Wednesday and remaining the only category among the five tracked to post positive net flows this week.
Related: Bitcoin will become ‘less volatile’ and larger than gold: ‘The Bitcoin Standard’ author