- BlackRock’s IBIT had net outflows of $13.51M, marking its first negative flows since May 1.
- Only one spot Bitcoin ETFs, Ark and 21Shares’ ARKB, received $5.34M in net inflows.
The three-day losing skid for U.S. spot bitcoin exchange-traded funds continued on Thursday with net outflows of $71.73 million. Data from SosoValue shows that BlackRock’s IBIT, the biggest spot bitcoin ETF by net assets, had net outflows of $13.51 million, marking its first negative flows since May 1, and second since debut.
On Thursday, $22.68 million left Grayscale’s GBTC, continuing its outflow streak, while $31.11 million left Fidelity’s FBTC. The BITB fund managed by Bitwise also lost $8.09 million, while the BRRR fund managed by Valkyrie lost $1.68 million.
Only one spot Bitcoin ETFs, Ark and 21Shares’ ARKB, received $5.34 million in net inflows. Compared to Wednesday’s total of $2.18 billion, Thursday’s overall trading volume for the 12 spot bitcoin ETFs dropped to $1.64 billion.
Net Outflows Recorded by Spot Ether ETF
On the other hand, after a day of moderate positive flows, U.S. spot Ethereum ETFs resumed negative flows on Thursday, with net outflows of $1.77 million. Out of all the spot ether ETFs, only Grayscale Ethereum Trust (ETHE) saw outflows of $5.35 million. A net inflow of $3.57 million was received by the Grayscale Ethereum Mini Trust (ETH), which offset this.
On Thursday, no money from the other seven spot ether funds were recorded. After reaching $151.57M on Wednesday, the combined trading volume for all nine ETFs dropped to $95.91M on Thursday.
Amidst the current uncertainty in the cryptocurrency market, Bitcoin (BTC) has seen a precipitous decline, falling from about $65,000 to less than $59,000 in the last few days. Market responses to recent economic data and wider financial trends are among the variables that have contributed to this negative move.
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