- The biggest outflow from ARKB since its launch in January occurred on Thursday.
- Net inflows of more than $2B were recorded by the U.S BTC ETFs over the previous 13 days.
With a net inflow of $48.71 million, U.S. spot bitcoin exchange-traded funds have now recorded 13 days of net inflows. Two bitcoin funds, one from Fidelity and the other from Ark Invest and 21Shares, had large movements yesterday.
SoSoValue data shows that FBTC (Fidelity) led net inflows of $119 million while ARKB (Ark) led net withdrawals of almost $100 million. The biggest outflow from ARKB since its launch in January occurred on Thursday.
Uncertainty Among Investors
Around $2 million came into BlackRock’s IBIT, the biggest spot bitcoin fund in terms of net assets. Despite just becoming the second biggest, Grayscale’s GBTC had no flows. Invesco and Galaxy Digital’s bitcoin exchange-traded fund (ETF) had net inflows of $2 million, while Bitwise’s BITB received $26 million.
Uncertainty among investors about the future of interest rates set by the Federal Reserve seems to be driving the unusual spot bitcoin ETF movements, especially in the run-up to the release of key US economic data on May 31.
Net inflows of more than $2 billion were recorded by the U.S. spot bitcoin ETFs over the previous thirteen days. After the 17 days of net inflows that began in January, the current positive run is the second longest the funds have had since their listing. There was a marked decrease from March’s high volume of flows in U.S. spot bitcoin ETFs, according to The Block’s data dashboard.
Just one day after BlackRock submitted its updated S-1 registration statement, Grayscale did the same for its spot Ethereum fund on Thursday. Issuers are being reminded by the SEC to file their S-1 forms by Friday, thus a surge in submissions is anticipated.
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