Bitcoin ETF

Galaxy

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Ark Invest’s ARKB spot Bitcoin ETF observed a record $100 million in daily net outflows.</li>
 <li>Fidelity’s FBTC led net inflows with $119 million, while BlackRock’s IBIT and Invesco and Galaxy Digital’s Bitcoin ETFs saw $2 million in net inflows each.</li>
</ul>
<p>Ark Invest’s ARKB spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded fund (ETF) recorded its highest daily net outflow since its launch in January, with nearly $100 million exiting the fund, according to data from SoSoValue.</p>
<p>Fidelity’s FBTC, on the other hand, led the inflows with a net value of $119 million.</p>
<h2 id="other-notable-movements">Other Notable Movements</h2>
<p>Other significant fund movements were observed in BlackRock’s IBIT and Invesco and Galaxy Digital’s Bitcoin ETFs. Both funds reported net inflows of $2 million. Bitwise’s BITB added $26 million worth of funds. However, Grayscale’s GBTC, which recently became the second-largest spot Bitcoin fund by net assets, saw zero flows.</p>
<p>According to Rachael Lucas, a Crypto Analyst at BTC Markets, the unusual spot Bitcoin ETF flows appear to be affected by investor uncertainty regarding the Federal Reserve’s interest rate path.</p>
<h2 id="impact-of-economic-reports">Impact of Economic Reports</h2>
<p>Lucas noted that if U.S. inflation numbers exceed expectations and personal income and spending trends rise, it could dampen investor optimism about a potential Fed rate cut in September. A more hawkish Fed could negatively impact demand for riskier assets, including Bitcoin and related ETFs.</p>
<p>In the past 13 days, the U.S. spot Bitcoin ETFs saw total net inflows of over $2 billion. However, the total volume of flows in the U.S. spot Bitcoin ETFs remained significantly smaller than their peak in March.</p>
<p>Meanwhile, Grayscale filed its amended S-1 registration statement for its spot <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> fund a day after BlackRock’s filing. More S-1 filings are expected to arrive as the SEC has asked issuers to submit their forms by Friday.</p>

Unprecedented $100M Daily Net Outflows Recorded by Ark Invest’s Bitcoin ETF

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