Bitcoin ETF Sees Significant Outflows
In the cryptocurrency market, Bitcoin experienced a volatile movement yesterday, pulling back to the $57,000 level. Subsequently, BTC made a new move towards $61,000 but failed to break the resistance and fell back below the $59,000 level. The volatile movement also led to outflows in spot Bitcoin ETFs. Let’s look at the numbers.
Spot Bitcoin exchange-traded funds (ETFs) in the US recorded a net outflow of $71.73 million on Thursday. This continued a three-day outflow streak. BlackRock’s largest spot Bitcoin ETF, IBIT, reported a negative flow for the first time since May 1, with an outflow of $13.51 million. Access NEWSLINKER to get the latest technology news.
Grayscale’s GBTC continued this trend with an outflow of $22.68 million. Fidelity’s FBTC saw a net outflow of $31.11 million. Bitwise’s BITB fund had an outflow of $8.09 million, while Valkyrie’s BRRR ETF experienced an outflow of $1.68 million.
On the other hand, Ark and 21Shares’ ARKB fund was the only spot Bitcoin ETF to record a net inflow of $5.34 million. In total, the daily trading volume of 12 spot Bitcoin ETFs fell to $1.64 billion on Thursday, down from the previous day’s figure of $2.18 billion.
