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Bitcoin Spot ETFs Witness Third Consecutive Day of Outflows
In the last three days, exchange-traded funds (ETFs) have recorded a steady trend of withdrawals, with a total of $261.5 million leaving the 10 approved funds on March 20. In total, Outflows have reached $742 million, with March 18 and 19 recording $154.3 million and $326.2 million, respectively, according to Farside Investor data.
The outflow was mainly due to a consecutive day of withdrawals by the Grayscale Bitcoin Trust (GBTC), which saw the fund lose $386.6 million, while the Invesco Galaxy Bitcoin ETF (BTCO) also saw a $10.2 million withdrawal . Both of these events obscured small inflows from eight other ETFs.
Flows for all 10 U.S. spot Bitcoin ETFs, green row highlights March 20. Source: Farside Investors
BlackRock’s iShares Bitcoin Trust (IBIT) recorded its second-lowest withdrawal ever, at $49.3 million – just slightly above its daily low on February 6. Fidelity Wise Origin Bitcoin Fund (FBTC) also experienced a day with low net inflows, at $12.9 million.
Overall, this was the second-highest day of net inflows for the 10 ETFs, just $326.2 million less than March 19.
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