Bitcoin

when

BlackRock

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin exchange-traded funds (ETFs) experienced a full week of net outflows, setting a new record.</li>
 <li>BlackRock and Fidelity saw record low inflows for their Bitcoin ETFs during the same period.</li>
</ul>
<p>The past week was marked by a unique occurrence in the world of Bitcoin ETFs. They experienced a record-setting five consecutive days of net outflows.</p>
<h2 id="unprecedented-outflows">Unprecedented Outflows</h2>
<p>The ten ETFs collectively saw outflows totaling $888 million, led by a record-breaking outflow from Grayscale’s GBTC on March 18. This five-day streak of outflows surpassed a previous four-day streak from January.</p>
<p>The outflows were accompanied by weak inflows. BlackRock’s IBIT, which accounts for nearly half the market, had a record-low inflow of $49.3 million on March 20. This record was broken two days later when IBIT received only $18.9 million in new capital.</p>
<h2 id="record-low-inflows">Record Low Inflows</h2>
<p>Fidelity’s FBTC, the third-largest spot Bitcoin ETF, also saw record-low inflows this week, with only $2.9 million added on March 21.</p>
<p>The substantial outflows coincided with a decrease in Bitcoin’s price. Other factors, such as trading by digital financial firm Genesis, may explain the large outflows.</p>
<p>Despite the net negative inflows, trading volumes remained significant, albeit slightly lower than in recent weeks. The combined volumes of the spot Bitcoin ETFs increased by approximately $22 billion over the past week, reaching a total of $164 billion.</p>

Bitcoin ETFs Experience Unprecedented Outflows, Historic Lows for BlackRock & Fidelity

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