PiCK

U.S. spot Bitcoin ETF posts $194.64 million net outflow

Doohyun Hwang

Summary

Reported that U.S. spot Bitcoin ETFs experienced a net outflow of $194.64 million.
Stated that BlackRock's 'IBIT' and Fidelity's 'FBTC' had fund outflows of $112.96 million and $54.20 million, respectively.
Reported that Bitcoin was trading around $91,930, down about 1.4% from the previous day.

U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) reportedly experienced a net outflow of $194.64 million on the 4th (local time). Large withdrawals from major ETFs significantly widened the one-day net outflow.

According to data from SoSoValue, the product with the largest net outflow that day was BlackRock's 'IBIT', which saw $112.96 million leave in a single day. Fidelity's 'FBTC' also recorded a $54.20 million net outflow. That means more than $167 million was withdrawn from just those two products. Grayscale's 'GBTC' also recorded a $10.13 million net outflow, confirming an overall weak trend.

On that day, Bitcoin was trading on the Binance USDT market around $91,930, down about 1.4% from the previous day.

BTC