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US Bitcoin ETFs record net outflow of $438 million in a single day
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Bitcoin exchange-traded funds (ETFs) in the United States ended a five-day streak of net inflows. Last Monday (20), the Bitcoin ETFs saw total outflows of approximately $438.4 million.
According to the SoSoValue survey, seven Bitcoin ETFs showed negative flows, led by the fund BITB, by Bitwisewhich recorded outflows of more than US$280 million. Grayscale’s GBTC was the second largest in withdrawals, with US$158.2 million.
Fidelity’s FBTC had outflows of US$ 134.7 million, while ARKB, from Ark and 21Shares, saw a negative flow of US$ 110.9 million. Other Bitcoin funds, including those from Invesco, Valkyrie and VanEck, also reported negative flows.
On the other hand, only two Bitcoin ETFs showed net inflows. THE IBIT, from BlackRock, which is the largest spot-type Bitcoin fund, with US$31.6 billion accumulated in inflows, recorded a positive flow of US$267.8 million. Additionally, Grayscale’s Mini Bitcoin Trust had a more modest inflow of $420,460.
Bitcoin ETFs Face Withdrawals
On Monday, the 12 Bitcoin ETFs handled a combined trading volume of $5.6 billion. This is a slight increase compared to the US$5.4 billion recorded the previous Friday. Despite the negative flow, the net accumulated balance of these funds remains positivewith US$30.4 billion, and its assets under management total US$102.2 billion, representing around 5.4% of Bitcoin’s market value.
About that, Bitcoin price gave back some of recent gains. After reaching almost US$100,000 last week, the cryptocurrency fell 6.5% in the last 24 hours, trading at around US$92,000 at the time of writing this article.
In the same period, the US Ethereum ETFs saw net inflows modest, totaling US$ 2.8 million. Three funds — Bitwise, Fidelity and VanEck — showed positive inflows, while 21Shares products and two Grayscale ETFs reported net outflows.
The combined trading volume of the nine Ethereum ETFs rose to $711.2 million, a significant increase from the $373.9 million recorded the previous Friday. The accumulated balance of net Ethereum fund flows is now US$109 million.
US Bitcoin ETFs record net outflow of $438 million in a single day
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US Bitcoin ETFs record net outflow of $438 million in a single day
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US Bitcoin ETFs record net outflow of $438 million in a single day
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US Bitcoin ETFs record net outflow of $438 million in a single day
