Bitcoin ETF

Brett (Arbitrum)

Bitcoin

United States spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) exchange-traded funds (ETFs) have witnessed their largest day of joint outflows on record, with a total of $326 million being shed from the 10 funds on March 19.
As of March 19, Grayscale reported that its&nbsp;Bitcoin Trust (GBTC) had over $23.7 billion in assets under management. If its outflows continue at the current rate, it could be out of assets by as soon as late July.
Grayscale’s GBTC saw $443.5 million net outflows on the day, with BlackRock, Fidelity and Bitwise’s ETFs being the only funds to post net inflows, according to Farside Investors <a href="https://farside.co.uk/?p=1321" target="_blank" rel="noopener nofollow">data</a>.
Combined, the three funds generated $117.3 million in net inflows, the second-lowest inflow day for the nine new Bitcoin ETFs — excluding GBTC. 
BlackRock’s iShares Bitcoin Trust (IBIT) boasted the day’s largest net inflows at $75.2 million, while the Fidelity Wise Origin Bitcoin Fund (FBTC) saw $39.6 million.
The Bitwise Bitcoin ETF (BITB) attracted just $2.5 million in net inflows — its lowest day on record — excluding the days it witnessed zero new inflows.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/55027b11-8ae7-4349-9fdb-e148f6b71ab7.png" alt="" title="">
 <figcaption style="text-align: center;">
 Flows for all 10 U.S. spot Bitcoin ETFs, green row highlights March 19. Source: Farside Investors
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</figure>
The ETF outflows were more than double the amount of the previous record outflow day, which stood at $158.3 million on Jan. 24 and marks the second straight day of net outflows for the funds.
Related: <a href="https://cointelegraph.com/news/sec-delays-hashdex-ark-21shares-eth-etfs-approval-hopes-slashed">SEC pushes Hashdex, ARK 21Shares Ether ETFs as approval hope dwindles</a>
The sizeable outflows came as the price of BTC&nbsp;<a href="https://cointelegraph.com/news/bitcoin-halving-price-narrative-strengthens-crypto-market-falls">fell as low as $62,400 on March 19</a>&nbsp;during U.S. trading hours, continuing its decline after touching a new all-time high of $73,835 on March 14.
In the last 24 hours, Bitcoin has fallen 5.4% and is trading at $61,173, just above its intraday low of $60,872, per <a href="https://pro.cointelegraph.com/coins/bitcoin">Cointelegraph Markets Pro</a>.
March 18 saw GBTC’s <a href="https://cointelegraph.com/news/grayscale-gbtc-outflow-highest-daily-record-spot-bitcoin-etfs">largest net outflow day</a> of $642.5 million. Overall, the fund has witnessed nearly $12.9 billion in outflows in the 49 trading days since Jan. 11, when it converted from a trust to an ETF.
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/expect-records-broken-by-spot-bitcoin-etf-brett-harrison-ex-ftx-us-x-hall-of-flame/">Expect ‘records broken’ by Bitcoin ETF: Brett Harrison (ex-FTX.US):&nbsp;X Hall of Flame</a>

Biggest ETF outflow: At this rate, Grayscale will be out of Bitcoin in 4 months

Cointelegraph

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