Crypto:
30604
Bitcoin:
$62.416
% 3.95
BTC Dominance:
%53.6
% 0.35
Market Cap:
$2.21 T
% 1.97
Fear & Greed:
33 / 100
Bitcoin:
$ 62.416
BTC Dominance:
% 53.6
Market Cap:
$2.21 T

Bitcoin ETF Outflows Continue for Fifth Consecutive Day

Bitcoin Etf

With $139.88 million leaving the funds on Thursday, spot bitcoin ETF (exchange-traded funds) in the U.S. observed their fifth straight day of net outflows.

With a daily net outflow of $53 million, Grayscale’s GBTC led the pack yesterday, closely followed by Fidelity’s FBTC, which showed withdrawals of $51 million, based on data from SoSoValue. Bitwise’s BITB reported $32 million in net outflows; VanEck’s ETF recorded net outflows of $4 million. Net outflows from the Invesco and Galaxy Digital funds came to $2 million.

Grayscale and Fidelity Lead in Bitcoin ETF Withdrawals

The sole net inflows came from BlackRock’s IBIT, the biggest spot bitcoin ETF based on net asset value. On Thursday, IBIT saw $565 million in daily trade volume and $1 million in net inflows. Other funds from Ark Invest, Valhalla, Franklin Templeton, WisdomTree, and Hashdex saw zero flows.

This Might Interest You: FDUSD Trading Dynamics Shift After Binance Update

On Thursday, the ETFs traded overall at $1.16 billion, down from Tuesday’s $1.7 billion. As of Thursday, the 11-spot bitcoin funds had a net inflow of $14.67 billion overall since their launch in January. Wednesday was a public holiday; hence, the market closed.

BlackRock Stands Out with Net Inflows Amid Market Outflows

In the past 24 hours, bitcoin dropped 1% to $64,471 at the time of writing. Regarding related ETF news, on Thursday, Australia’s biggest stock market, ASX, announced its first bitcoin ETF space. Operating as a feeder fund, the VanEck Bitcoin ETF invests in the U.S.-listed VanEck Bitcoin Trust (HODL) to expose bitcoin. Though spot crypto ETFs since 2022, the inclusion of the bitcoin fund in ASX apparently represents attempts to meet the crypto ETF momentum in the United States and Hong Kong.

READ:  Altcoin Price Doubles After BlackRock Announcement!

U.S. ETF issuers are meanwhile striving for the release of the first batch of spot ether funds for their nation. Two sources claim that last week issuers got remarks from the Securities and Exchange Commission on the S-1 forms for ETFs. These days, they are trying to return the changed paperwork by Friday.

 

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

Rate this post

Leave a Reply

Your email address will not be published. Required fields are marked *