United

Spot

<h2 id="key-points">Key Points</h2>
<ul>
 <li>US spot Bitcoin ETFs experienced a net daily outflow of $120.64 million.</li>
 <li>Grayscale’s GBTC, Fidelity, and Ark Invest’s funds were among those affected.</li>
</ul>
<p>Spot Bitcoin exchange-traded funds (ETFs) in the United States witnessed a net outflow of $120.64 million in a single day. This occurred as eight products recorded no flows, according to SoSoValue’s data.</p>
<h2 id="spot-bitcoin-etfs-performance">Spot Bitcoin ETFs’ Performance</h2>
<p>Grayscale’s GBTC experienced an outflow of $130.42 million. In contrast, Fidelity and Ark Invest’s funds were the only two to record inflows, amounting to approximately $10 million. Additionally, eight other funds, including BlackRock’s IBIT and Bitwise’s BITB, saw no flows. Notably, BlackRock’s IBIT ended its 71-day positive streak.</p>
<p>According to Rachael Lucas, a crypto analyst at BTC Markets, days with zero inflows are common and do not necessarily indicate a product’s failure. She added that such occurrences could also be influenced by market performance and geopolitical tensions, which reflect the complexities beyond ETF flows.</p>
<h2 id="market-reactions-and-future-predictions">Market Reactions and Future Predictions</h2>
<p>Joe Caselin, head of institutional marketing of BIT crypto exchange, echoed Lucas’s sentiment. He noted that zero flows in an ETF are not unusual and could signify a slowdown in ETF excitement. Caselin further stated, “Bridging fiat into the <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> narrative takes time, and we will continue to see fresh inflows coming in waves as the slow but unstoppable machine of TradFi clicks with crypto.”</p>
<p>Bloomberg ETF Analyst James Seyffart previously explained that ETF shares are created or destroyed in units. This only occurs when there is a significant enough mismatch in supply and demand, which is why zero flows can frequently be observed in such products.</p>
<p>The combined trading volume for all 11 spot bitcoin ETFs is approaching $230 billion.</p>

Bitcoin ETFs in US Record $120 Million in Daily Net Withdrawals

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