Summary
- The 12 U.S. spot Bitcoin ETFs posted total net outflows of $125.29 million.
- Funds flowed out of major ETFs including IBIT, FBTC, ARKB, MSBT, GBTC and BTC.
- As Bitcoin fell below the $73,000 level, the market has seen weaker investor sentiment, profit-taking and a move away from risk assets.
Forecast Trend Report by Period
U.S. spot-Bitcoin exchange-traded funds saw more than $125 million leave the funds in a single day.
The 12 U.S. spot-Bitcoin ETFs posted combined net outflows of $125.29 million on May 29, according to ETF data analyst Trader T.
BlackRock's iShares Bitcoin Trust (IBIT) recorded the largest outflow, with $68.19 million leaving the fund. Fidelity Wise Origin Bitcoin Fund (FBTC) followed with $31.95 million in net outflows.
ARKB, jointly managed by Ark Invest and 21Shares, posted net outflows of $7.3 million, while Morgan Stanley's MSBT lost $5.26 million.
Grayscale Bitcoin Trust (GBTC) recorded net outflows of $2.85 million. Grayscale Bitcoin Mini Trust (BTC) also saw $9.74 million leave the fund.
By contrast, Bitwise (BITB), Invesco (BTCO), Franklin Templeton (EZBC), Valkyrie (BRRR), VanEck (HODL) and WisdomTree (BTCW) recorded no inflows or outflows.
Bitcoin's drop below $73,000 has damped investor sentiment, spurring profit-taking and a move away from risk assets in spot ETFs as well.
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
