A noteworthy point about fund outflows was that Fidelity's ETF had more outflows than GBTC. While there was an outflow of 191 million dollars from FBTC yesterday, the outflow from GBTC was 167.2 million dollars. After these ETFs, Ark Invest's ARKB made the 3rd largest exit with $98.1 million. Then, BlackRock's ETF came in with $36.9 million, which showed that IBIT recorded an outflow on a daily basis for the first time. Generally speaking, it was seen that all exchange-traded funds closed the day in minus, except Hashdex's ETF DEFI, which remained inactive yesterday.
US spot Bitcoin ETFs decreased to $11.2 billion in total after yesterday's outflows. While the funds saw a net outflow of 343.5 million dollars throughout April, the 3-month inflow series ended. On the other hand, GBTC, which has seen a loss of funds since its launch date, saw an outflow of $ 2.5 billion last month.
Outflows from ETFs negatively affect Bitcoin
While the US spot Bitcoin ETFs, which started May with a loss of funds, ended their support for the Bitcoin price, the largest cryptocurrency lost nearly 15% in value in April. Bitcoin, which started May with a decline, has lost 6% in value since yesterday and fell to $ 56,500.
-Investing.com
