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 For the third day in a row, spot bitcoin exchange-traded funds (ETFs) in the United States have experienced net outflows. According to<a style="color: #0000ff;" href="https://m.sosovalue.xyz/" rel="noopener noreferrer nofollow"> data from SoSoValue</a>, more than $58 million was withdrawn from the ETF market during the trading day ending April 16, 2024.&nbsp;
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Grayscale’s Bitcoin Trust ETF ($GBTC) accounted for almost $79.4 million of net outflows yesterday alone; Ark 21 Shares Bitcoin ETF saw similar flows, with approximately $12.88 million exiting their fund.
Though some spot bitcoin ETFs experienced significant outflows, most saw modest inflows ranging between $1.37 million and $3.56 million.&nbsp;
Notably, BlackRock’s $iBIT has consistently bucked this trend. The ETF experienced the highest inflow in the last trading day, with $25.78 million added to the fund’s pool. VanEck’s Bitcoin Trust (HODL) and Fidelity’s Wise Origin Bitcoin Trust (FBTC) followed with inflows of $ 3.56 million and $ 1.37 million, respectively.&nbsp;
READ MORE: <a style="color: #0000ff;" href="https://defi-planet.com/2024/04/blackrocks-ibit-etf-bucks-trend-with-continuous-inflows-amidst-market-stagnation-in-the-past-five-days/" rel="noopener noreferrer nofollow">BlackRock’s $IBIT ETF Bucks Trend with Continuous Inflows Amidst Market Stagnation In The Past Five Days</a>
This is the second time in the last two months that the U.S. spot Bitcoin ETFs market has recorded three days of cumulative losses. <a href="https://defi-planet.com/2024/03/u-s-spot-bitcoin-etfs-record-three-days-of-consecutive-net-outflows-bitmex-report/" rel="noopener noreferrer nofollow">The first occurred between March 18 and 20,</a> resulting in a total loss of $742 million. In comparison, this current outflow trend has resulted in losses totalling $149.83 million.
Overall, Bitcoin ETF volumes have stabilised following a gradual decrease from the peak levels seen in early March. Cumulative volumes surpassed $215 billion on Monday, according to data from SoSoValue.&nbsp;
Additionally, flows between buyers and sellers have tightened significantly since March, indicating an increasingly balanced market. Both inflows and outflows from spot bitcoin ETFs have steadily decreased since then. Notably, the funds registered their largest single-day outflow to date, amounting to approximately $326 million on March 19, 2024.
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READ MORE: <a style="color: #0000ff;" href="https://defi-planet.com/2024/03/us-bitcoin-etfs-experience-record-net-outflow-of-326-million/" rel="noopener noreferrer nofollow">US Bitcoin ETFs Experience Record Net Outflow of $326 Million</a>
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The post <a href="https://defi-planet.com/2024/04/u-s-bitcoin-etfs-experience-third-consecutive-day-of-net-outflows-for-the-second-time-since-inception/" rel="noopener noreferrer nofollow">U.S. Bitcoin ETFs Experience Third Consecutive Day of Net Outflows For the Second Time Since Inception</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

U.S. Bitcoin ETFs Experience Third Consecutive Day of Net Outflows For the Second Time Since Inception

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