Bitcoin ETFs in U.S. Witness Significant $328M Outflows

Last updated: 07/31/2024 5:43 AM

By Jasinth 1 month ago

1 Min Read

Bitcoin ETFs in U.S. Witness Significant $328M Outflows

According to Farside Investors, Bitcoin Spot ETFs in the United States experienced large net outflows of $328 million during the week ending April 26, 2024.

Bitcoin ETFs in U.S. Witness Significant $328M Outflows data — Bitcoin ETF Flow | Source : Farside Investors

Farside UK statistics on Tuesday, April 23, revealed net inflows of $31.6 million into Bitcoin ETFs, driven mostly by BlackRock’s IBIT and Ark 21Shares’ ARKB. Net withdrawals on Wednesday totaled $120 million, with GBTC leading the way.

At the beginning, there were net inflows of $62.02 million, with outflows from Grayscale’s GBTC and gains of $34.83 million from Fidelity’s FBTC. Inflows of $19.4 million were also made into BlackRock’s IBIT ETF.

With GBTC leading the way with a $140 million outflow, the losses accelerated to $217 million across all 10 Spot Bitcoin ETFs on Thursday. With the exception of ARKB, which had an inflow of $5.4 million, Friday’s data revealed ongoing withdrawals of $83.6 million.

The situation is unclear, as rising volatility and possible declines in Bitcoin are projected to cause reversals in ETF flows.

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TAGGED:Bitcoin ETF

By Jasinth

Jasinth is a creative and skilled crypto content writer with over three years of experience in the field. With a passion for writing and research, she has made a name for herself in the crypto community and financial market with her in-depth analysis and clear explanations of complex topics. She is also a literature enthusiast who loves beautiful clicks.