PiCK
US Spot Bitcoin ETFs See $100.81 Million in Outflows, Marking Fifth Straight Day
Summary
- The US spot Bitcoin ETF market recorded about $100.81 million in net outflows in one day.
- BlackRock's IBIT saw $103.64 million in outflows, while ARK's ARKB posted $2.83 million in net inflows.
- With Bitcoin trading sideways in the $77,000 to $78,000 range, geopolitical risks in the Middle East and uncertainty over US interest rates are weighing on sentiment toward risk assets.
Forecast Trend Report by Period
US spot-Bitcoin exchange-traded funds posted net outflows of about $100.81 million in one day, with most of the withdrawals coming from BlackRock's ETF.
Data shared by Trader T on X showed the US spot-Bitcoin ETF market recorded total net outflows of $100.81 million on May 21.
BlackRock's iShares Bitcoin Trust (IBIT) posted outflows of $103.64 million. ARK 21Shares Bitcoin ETF (ARKB), by contrast, recorded net inflows of $2.83 million.
There were no fund flows in major ETFs including Fidelity Wise Origin Bitcoin Fund (FBTC), Bitwise Bitcoin ETF (BITB), Invesco Galaxy Bitcoin ETF (BTCO), VanEck Bitcoin Trust (HODL) and Grayscale Bitcoin Trust (GBTC).
Bitcoin has recently traded sideways in the $77,000 to $78,000 range, and institutional investors appear to be staying on the sidelines. Geopolitical risks in the Middle East and uncertainty over US interest rates are also weighing on appetite for risk assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
