PiCK

U.S. spot Bitcoin ETFs see $904,000,000 net outflow…second-largest on record

Doohyun Hwang

Summary

Reported a $904,000,000 net outflow from the U.S. spot Bitcoin ETF market.
Notably, major products such as BlackRock's IBIT, Fidelity's FBTC, and Grayscale's GBTC experienced substantial outflows.
Bitcoin's price recorded the lowest level in seven months, falling about 7%.

A large capital outflow occurred in the U.S. spot Bitcoin (BTC) ETF market.

According to data from TraderT, on the 20th (local time), U.S.-listed spot Bitcoin ETFs recorded a total net outflow of $904,000,000 in a single day. This is the second-largest daily net outflow since launch.

The largest outflow occurred from BlackRock's 'IBIT', with $356,390,000 withdrawn that day, and Fidelity's 'FBTC' saw $190,370,000 exit. Grayscale's flagship product 'GBTC' also saw $199,350,000 flow out.

Bitwise's 'BITB' recorded a net outflow of $21,170,000, Ark Invest's 'ARKB' recorded $94,420,000 in net outflows. VanEck's 'HODL' saw $30,590,000 leave, and Franklin's 'EZBC' had $7,510,000 withdrawn.

On that day, based on Binance's Tether (USDT) market, Bitcoin is trading in the $85,900 range, down about 7% from the previous day. It's the lowest level in seven months.

BTC