Editor's PiCK
US spot Bitcoin ETFs see $400 million in net outflows...selling pressure intensifies
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Summary
- US spot Bitcoin ETFs logged net outflows for a third consecutive session, with selling pressure intensifying.
- Large sums flowed out of BlackRock IBIT, Fidelity FBTC, Grayscale GBTC and the Grayscale Mini Trust, and ARK Invest ARKB, amplifying downside pressure.
- There were modest inflows into Bitwise BITB and WisdomTree BTCW, but they were not enough to offset selling by major managers.
US spot Bitcoin exchange-traded funds (ETFs) posted net outflows for a third straight session.
According to data from TraderT on the 8th (local time), a combined $400.24 million flowed out of 11 US spot Bitcoin ETFs.
BlackRock led the day’s sell-off. BlackRock’s IBIT saw $194.64 million in outflows. Fidelity (FBTC) also extended the selling pressure, recording net outflows of $120.52 million. Grayscale (GBTC) and the Grayscale Mini Trust (BTC) saw outflows of $73.09 million and $7.24 million, respectively, adding to downside pressure. ARK Invest (ARKB) also saw $9.63 million exit.
Buying was muted. Bitwise (BITB) and WisdomTree (BTCW) recorded inflows of $2.96 million and $1.92 million, respectively, but that was insufficient to absorb selling by major managers. The remaining ETFs, including Invesco (BTCO) and Franklin Templeton (EZBC), ended the day with no change in flows.
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