PiCK
US Spot-Bitcoin ETFs Post $159.44 Million Outflow as Grayscale, Fidelity Lead Withdrawals
Summary
- Bitcoin spot ETFs recorded $159.44 million in net outflows.
- Outflows were concentrated in major ETFs including Fidelity's FBTC, Grayscale's GBTC, Ark's ARKB and BlackRock's IBIT.
- Despite the rebound in Bitcoin prices, ETF flows remained in net outflow territory, indicating institutional investor demand has weakened in the short term.
Forecast Trend Report by Period
Outflows continued in the spot-Bitcoin ETF market.
Bitcoin spot ETFs recorded net outflows of $159.44 million on Aug. 7, according to data compiled by Trader T.
The biggest withdrawals came from major funds. Fidelity's FBTC posted net outflows of $47.85 million, while Grayscale's GBTC lost $41.89 million. Ark's ARKB saw $34.15 million leave the fund, and BlackRock's IBIT recorded net outflows of $17.50 million.
Valkyrie's BRRR was the only fund to post inflows, adding $2.32 million. Most of the remaining ETFs were flat, with little to no movement in assets.
Morgan Stanley's MSBT, a newly launched ETF, showed no fund flows in its first day of tracking.
Despite Bitcoin's recent price rebound, ETF flows remained negative, indicating institutional demand has weakened in the short term.
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
