U.S.-listed BTC spot ETFs saw outflows for the fifth consecutive day, with total outflows exceeding $900 million this week.
Bitcoin ETFs saw $900 million in net outflows this week as the market faces challenges
On Thursday alone, 11 exchange-traded ETFs experienced $140 million in outflows, according to SoSoValue
Grayscale’s GBTC has been facing outflows since its conversion to an ETF in January, with the fund leading with $53 million in outflows, followed by Fidelity’s FBTC with $51 million in outflows.
BlackRock’s IBIT, the largest ETF by assets, was the only ETF to see net inflows, though the inflows were only $1 million. No other ETFs saw net inflows or outflows.
Bitcoin prices have come under pressure in recent weeks for a variety of reasons, including $1 billion in sales by major holders, a stronger dollar, and strong performance in the U.S. tech index market.
These factors have combined to lead to ongoing challenges for Bitcoin ETFs. The market continues to weaken
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