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BlackRock’s IBIT Defies Trend with Net Inflows Amidst Widespread Bitcoin ETF Outflows
#BitcoinETF #ETF #ETFoutflows #Bitcoin $BTC
On Thursday, BlackRock’s IBIT was the only exchange-traded fund (ETF) to post a net inflow, while most other funds experienced significant outflows.
U.S.-listed bitcoin (BTC) ETFs saw over $226 million in net outflows on Thursday, marking the third consecutive day of outflows this week. This trend echoes the wave of withdrawals observed at the end of April.
According to preliminary data from SoSoValue, Fidelity’s FBTC faced the highest outflow, with $106 million withdrawn. Grayscale’s GBTC saw $62 million in outflows, and Ark Invest’s ARKB experienced $53 million in withdrawals.
In contrast, BlackRock’s IBIT recorded a net inflow, gaining $18 million. ETFs from Valkyrie, Franklin Templeton, Hashdex, and WisdomTree reported no significant inflow or outflow activity.
This week, Wednesday was the only day to see a net inflow for these U.S.-listed products, adding $100 million. The overall activity coincides with a volatile week for bitcoin and the broader crypto market, centered around Wednesday's critical U.S. inflation report and the Federal Reserve meeting.
The total net outflows over the past three days amount to $564 million, which is nearly half of the $1.2 billion withdrawn during a six-day period at the end of April. The U.S. inflation report came in lower than expected, momentarily boosting bitcoin prices to $70,000 from $68,000, before prices fell below $67,000 as traders likely took profits on the surge.
BlackRock’s IBIT Defies Trend with Net Inflows Amidst Widespread Bitcoin ETF Outflows
#BitcoinETF #ETF #ETFoutflows #Bitcoin $BTC
On Thursday, BlackRock’s IBIT was the only exchange-traded fund (ETF) to post a net inflow, while most other funds experienced significant outflows.
U.S.-listed bitcoin (BTC) ETFs saw over $226 million in net outflows on Thursday, marking the third consecutive day of outflows this week. This trend echoes the wave of withdrawals observed at the end of April.
According to preliminary data from SoSoValue, Fidelity’s FBTC faced the highest outflow, with $106 million withdrawn. Grayscale’s GBTC saw $62 million in outflows, and Ark Invest’s ARKB experienced $53 million in withdrawals.
In contrast, BlackRock’s IBIT recorded a net inflow, gaining $18 million. ETFs from Valkyrie, Franklin Templeton, Hashdex, and WisdomTree reported no significant inflow or outflow activity.
This week, Wednesday was the only day to see a net inflow for these U.S.-listed products, adding $100 million. The overall activity coincides with a volatile week for bitcoin and the broader crypto market, centered around Wednesday's critical U.S. inflation report and the Federal Reserve meeting.
The total net outflows over the past three days amount to $564 million, which is nearly half of the $1.2 billion withdrawn during a six-day period at the end of April. The U.S. inflation report came in lower than expected, momentarily boosting bitcoin prices to $70,000 from $68,000, before prices fell below $67,000 as traders likely took profits on the surge.
#Write2earn
Bitcoin ETFs Face Fifth Day of Outflows
#Bitcoin #BitcoinETF #ETFoutflows #ETF $BTC
Thursday marked the fifth consecutive day of net outflows for U.S.-listed Bitcoin ETFs, experiencing their worst performance since mid-April. Spot Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. saw a significant outflow, losing over $900 million this week.
Detailed ETF Outflow Data
According to SoSoValue, the 11 listed Bitcoin ETFs lost $140 million on Thursday alone, with trading volumes reaching $1.1 billion. Grayscale’s GBTC, which has faced outflows since its January conversion to an ETF, led the losses with $53 million. Fidelity’s FBTC followed closely, losing $51 million.
BlackRock's IBIT Stands Out
Interestingly, BlackRock’s IBIT, the largest ETF by assets, recorded a net inflow of $1 million. In contrast, other products saw no significant net inflow or outflow activity.
Historical Context and Recent Trends
This recent outflow activity is the worst since late April when Bitcoin ETFs experienced $1.2 billion in net outflows from April 24 to May 2. Afterward, inflows picked up, with the products adding over $4 billion in the next 19 trading days. However, the current outflow trend began on June 10.
Factors Influencing BTC Prices
Bitcoin prices have been under pressure in recent weeks. This decline is due to $1 billion in sales from large holders, a strong U.S. dollar, and a robust U.S. technology index market.
The ongoing outflow trend in Bitcoin ETFs indicates investor caution amid market volatility. As the crypto market evolves, these trends highlight the need for close monitoring and strategic adjustments.
Bitcoin ETFs Face Fifth Day of Outflows
#Bitcoin #BitcoinETF #ETFoutflows #ETF $BTC
Thursday marked the fifth consecutive day of net outflows for U.S.-listed Bitcoin ETFs, experiencing their worst performance since mid-April. Spot Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. saw a significant outflow, losing over $900 million this week.
Detailed ETF Outflow Data
According to SoSoValue, the 11 listed Bitcoin ETFs lost $140 million on Thursday alone, with trading volumes reaching $1.1 billion. Grayscale’s GBTC, which has faced outflows since its January conversion to an ETF, led the losses with $53 million. Fidelity’s FBTC followed closely, losing $51 million.
BlackRock's IBIT Stands Out
Interestingly, BlackRock’s IBIT, the largest ETF by assets, recorded a net inflow of $1 million. In contrast, other products saw no significant net inflow or outflow activity.
Historical Context and Recent Trends
This recent outflow activity is the worst since late April when Bitcoin ETFs experienced $1.2 billion in net outflows from April 24 to May 2. Afterward, inflows picked up, with the products adding over $4 billion in the next 19 trading days. However, the current outflow trend began on June 10.
Factors Influencing BTC Prices
Bitcoin prices have been under pressure in recent weeks. This decline is due to $1 billion in sales from large holders, a strong U.S. dollar, and a robust U.S. technology index market.
The ongoing outflow trend in Bitcoin ETFs indicates investor caution amid market volatility. As the crypto market evolves, these trends highlight the need for close monitoring and strategic adjustments.
