U.S. Bitcoin spot ETFs see net outflows of $930 million last week

Doohyun Hwang

Summary

Last week, SoSoValue reported net outflows of $930 million from the U.S. Bitcoin spot ETF market.
Among these, only BlackRock's IBIT recorded net inflows of $174 million, while some ETFs, such as Fidelity's FBTC, experienced significant capital departures.
Alongside worsening ETF fund flows, the Bitcoin price fell by more than 5% week-on-week to $109,700.

The U.S. Bitcoin spot exchange-traded fund (ETF) market experienced net outflows of $903 million last week. However, BlackRock's Bitcoin ETF, IBIT, stood out as the only fund to record net inflows.

On the 27th (local time), cryptocurrency data firm SoSoValue reported that from the 22nd to the 26th, on trading days, a total of $903 million flowed out of Bitcoin spot ETFs. During the same period, IBIT attracted the most capital with net inflows of $174 million. IBIT's cumulative total net inflows amount to $60.82 billion.

By contrast, Fidelity's FBTC saw the largest capital departure with net outflows of $738 million. FBTC's cumulative net inflows are around $11.92 billion. ARKB, managed by ARK Invest and 21Shares, also recorded net outflows of $123 million.

The total net asset value of Bitcoin spot ETFs currently trading in the U.S. is $143.56 billion, which corresponds to 6.59% of Bitcoin's total market capitalization. Cumulative net inflows amounted to $56.81 billion.

Coinciding with the deterioration in ETF fund flows, Bitcoin's price also weakened. Bitcoin, which was in the $115,000 range intraday on the 22nd, recorded a drop of more than 5% week-on-week and fell below the $110,000 level. As of the 27th, Bitcoin is trading around $109,700.