• On Tuesday, U.S. Bitcoin spot ETFs experienced an outflow of $19.48 million. 

  • BlackRock’s ETF had the most significant inflow of the day, at $128.7 million.

  • Grayscale experienced a substantial outflow of $154.9 million on April 9, countering the inflows from BlackRock, Bitwise, and Fidelity.

The U.S. Bitcoin spot Exchange-Traded Funds (ETFs) landscape has witnessed the second-day consecutive negative flow, primarily influenced by Grayscale’s unyielding outflows. In particular, public records of the funds that entered Bitcoin spot ETFs on Tuesday, April 9, suggest that the market experienced an outflow of $19.48 million. 

The crypto surveillance account of Colin Wu recently called attention to the development in a recent post on X. 

On April 9, the total net outflow of Bitcoin spot ETFs was $19.48 million. Grayscale ETF GBTC had a net outflow of $154 million on a single day, and BlackRock ETF IBIT had a net inflow of $128 million on a single day.https://t.co/npjWVH3bMi

— Wu Blockchain (@WuBlockchain) April 10, 2024

BlackRock iShares Bitcoin Trust (IBIT) had the most significant inflow of the day, at $128.7 million. This single-day inflow remains much lower than BlackRock’s 28-day average inflow of $277 million. 

Next in line was Bitwise’s ETF (BITB), with $3.8 million, followed by Fidelity’s ETF (FBTC), with $3 million. Aside from BlackRock, Bitwise, and Fidelity, no other asset manager recorded positive flow on Tuesday. 

Meanwhile, Grayscale experienced a substantial outflow of $154.9 million on April 9. This staggering figure counterbalanced the positive flow observed for BlackRock, Bitwise, and Fidelity. As a result, the net flow for Tuesday was negative, at $19.48 million. 

Also, Grayscale’s $154.9 million on Tuesday represents a nearly 50% decrease from the $303 million recorded on Monday. Since the inception of Bitcoin spot ETFs in the United States, Grayscale has seen no positive inflow. In particular, Grayscale’s ETF has been drained of over $12 billion.

With the unending outflows from Grayscale, the U.S. Bitcoin ETF markets have witnessed nine days of negative flows over the past 30 days. Meanwhile, the positive flows from BlackRock’s ETF and other ETFs have continuously bolstered the figures. As of April 9, the U.S. Bitcoin spot ETF market had recorded an inflow of $12.37 billion.

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