BlackRock’s IBIT Records First Net Outflows Since May as Market Fails to Gain Momentum
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Other major Bitcoin ETFs also experienced outflows.
U.S. spot Bitcoin exchange-traded funds (ETFs) saw $71.73 million in net outflows on Thursday, marking the third consecutive day of declines.
BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, recorded its first net outflows since May 1, with $13.51 million exiting the fund, according to data from SosoValue.
Other major Bitcoin ETFs also experienced outflows.
Grayscale’s GBTC saw $22.68 million withdrawn, while Fidelity’s FBTC registered $31.11 million in outflows.
Bitwise’s BITB and Valkyrie’s BRRR reported outflows of $8.09 million and $1.68 million, respectively.
Ark and 21Shares’ ARKB See Inflows
However, not all funds were in the red; Ark and 21Shares’ ARKB managed to buck the trend with net inflows of $5.34 million.
Trading volumes for the 12 spot Bitcoin ETFs also took a hit, dropping to $1.64 billion on Thursday, down from $2.18 billion the previous d
ay.
Spot Ethereum ETFs mirrored the negative sentiment, with $1.77 million in net outflows on Thursday after a brief period of inflows.
The Grayscale Ethereum Trust (ETHE) led the outflows with $5.35 million, partially offset by net inflows of $3.57 million into the Grayscale Ethereum Mini Trust (ETH).
The remaining seven Ethereum funds saw no movement.
Total trading volume for the nine spot Ethereum ETFs fell to $95.91 million on Thursday, down from $151.57 million on Weednesd
The net outflows in ETH ETFs came after the funds saw a net inflow of $5.8 million on Wednesday, marking the first positive movement after nine consecutive days of net outflows.
The outflows came as Bitcoin and Ethereum prices saw slight declines, with Bitcoin edging down 0.3% to approximately $58,984 and Ethereum slipping 0.29% to around $2,516.
Spot Ether ETFs Was Expected to Perform Poorly
