U.S. spot Bitcoin exchange-traded funds (ETFs) recorded
$71.73 million in net outflows on Thursday, marking the third consecutive day of withdrawals. BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, experienced its first negative flows since May 1, with
$13.51 million in net outflows.
Ongoing Outflow Trend
The outflows from BlackRock's IBIT contributed to a broader trend of spot Bitcoin ETFs experiencing significant withdrawals. Grayscale's GBTC saw
$22.68 million leave the fund, while Fidelity's FBTC logged
$31.11 million in net outflows. Bitwise’s BITB and Valkyrie’s BRRR also reported outflows.
Ark and 21Shares' ARKB Gains
In contrast to the outflows, Ark and 21Shares’ ARKB was the only spot Bitcoin ETF to record net inflows on Thursday, with
$5.34 million entering the fund. Despite this, the total daily trading volume for the 12 spot Bitcoin ETFs decreased from
$2.18 billion on Wednesday to
$1.64 billion on Thursday.
Ethereum ETFs Also Struggle
Spot Ethereum ETFs also faced challenges, with modest outflows reported on Thursday. The Grayscale Ethereum Trust (ETHE) was the only spot Ethereum ETF to see outflows, with
$5.35 million exiting the fund. However, this was partially offset by net inflows into the Grayscale Ethereum Mini Trust (ETH).
Read more at The Block.
