PiCK
US spot Bitcoin ETFs see $400 million in net outflows...selling pressure intensifies
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.
Forecast Trend Report by Period
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.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀