PiCK

US Spot Bitcoin ETFs Post $268.46 Million Outflow as BlackRock, Fidelity Lead Withdrawals

Source

YM Lee

Summary

The U.S. spot Bitcoin ETF market posted about $268.46 million in net outflows in a single day, breaking a recent inflow streak.
Major funds saw money leave, including $98.02 million from BlackRock's IBIT, $128.99 million from Fidelity's FBTC and $26.78 million from Grayscale's GBTC.
By contrast, Morgan Stanley's MSBT and Grayscale's Mini Bitcoin ETF posted net inflows of $7.35 million and $5.67 million, respectively. The ETF market continues to swing between short-term inflows and outflows, while Bitcoin prices remain in the upper-$70,000 range.

Forecast Trend Report by Period

U.S. spot Bitcoin exchange-traded funds posted net outflows of about $268 million in a single day, reversing a recent inflow trend.

Data compiled by Trader T showed total net outflows from U.S. spot Bitcoin ETFs stood at $268.46 million on May 7.

BlackRock's IBIT recorded the largest outflow, with $98.02 million leaving the fund.

Fidelity's FBTC saw net outflows of $128.99 million, while Grayscale's GBTC posted $26.78 million in withdrawals.

Ark's ARKB lost $12.62 million, Invesco's BTCO shed $9.97 million and VanEck's HODL recorded outflows of $5.10 million.

By contrast, Morgan Stanley's MSBT posted net inflows of $7.35 million. Grayscale's Mini Bitcoin ETF drew $5.67 million.

Bitwise's BITB, Franklin's EZBC, Valkyrie's BRRR and WisdomTree's BTCW recorded no net flows.

A fund-flow chart released with the data showed U.S. spot Bitcoin ETFs have recently swung between short-term inflows and outflows in a volatile market. Bitcoin has recently traded in the upper-$70,000 range.

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