Bitcoin ETF

Bitcoin

Million

<h2 id="key-points">Key Points</h2>
<ul>
 <li>US spot Bitcoin ETFs experienced a net outflow of $139.88 million for the fifth consecutive day.</li>
 <li>BlackRock’s IBIT was the only fund to register net inflows, while others like Grayscale’s GBTC and Fidelity’s FBTC saw significant outflows.</li>
</ul>
<p>US-based <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded funds (ETFs) have seen a notable decrease in investment, marking the fifth day of net outflows. A total of $139.88 million was withdrawn from these funds on Thursday.</p>
<h2 id="outflows-from-major-funds">Outflows from Major Funds</h2>
<p>Grayscale’s GBTC experienced the largest daily net outflow, losing $53 million. This was closely followed by Fidelity’s FBTC, which posted outflows of $51 million. Other funds such as Bitwise’s BITB, VanEck’s ETF, and the joint fund from Invesco and Galaxy Digital also reported net outflows.</p>
<p>Contrary to this trend, BlackRock’s IBIT, the largest spot Bitcoin ETF in terms of net asset value, saw $1 million in net inflows. The fund also recorded a daily trade volume of $565 million on Thursday. Meanwhile, other funds from Ark Invest, Valkyrie, Franklin Templeton, WisdomTree, and Hashdex recorded zero flows.</p>
<h2 id="trading-volume-and-market-developments">Trading Volume and Market Developments</h2>
<p>The total trading volume for these ETFs came to $1.16 billion on Thursday, a decrease from Tuesday’s $1.7 billion. Since their launch in January, the 11 spot Bitcoin funds have collectively seen a total net inflow of $14.67 billion as of Thursday.</p>
<p>In other news, Australia’s largest stock exchange, ASX, listed its first spot Bitcoin ETF on Thursday. The VanEck Bitcoin ETF, which operates as a feeder fund that provides Bitcoin exposure by investing in the US-listed VanEck Bitcoin Trust.</p>
<p>Meanwhile, in the US, ETF issuers are preparing to launch the country’s first batch of spot <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> funds. These issuers are currently working to re-submit amended forms by Friday, after receiving comments from the Securities and Exchange Commission.</p>

Bitcoin ETFs lose $140 Million amid ongoing US fund withdrawal

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