US spot Bitcoin ETFs see outflows for a second straight day…$90 million withdrawn

Outflows from the US spot Bitcoin ETF market are continuing. With volatility in the crypto market picking up, institutional money also appears to be turning more cautious.

According to SosoValue on the 19th (local time), net daily outflows from US spot Bitcoin ETFs totaled $90.19 million. This marks a second consecutive day of net outflows, following the previous day’s -$163.52 million.

By fund, BlackRock’s IBIT posted the largest withdrawal at $38.25 million. It was followed by Fidelity’s FBTC with $26.02 million, Bitwise’s BITB with $17.18 million, and Ark 21Shares’ ARKB with $15.16 million in outflows. Grayscale’s GBTC also recorded net outflows of $5.47 million.

In contrast, some products saw inflows. Grayscale’s Mini BTC ETF took in $4.66 million, while Franklin’s EZBC and Valkyrie’s BRRR posted net inflows of $4.06 million and $3.17 million, respectively.

Cumulative net inflows stood at $56.28 billion, and total net assets were tallied at $90.83 billion. However, total assets declined from the previous day due to the recent outflow trend.

The inflow streak that had continued through mid-month appears to have recently reversed amid heightened market uncertainty. A renewed focus on the possibility of rate hikes, combined with geopolitical risks in the Middle East, is seen as weighing on risk appetite across risk assets.