U.S. spot Bitcoin ETFs see $400 million net outflow...selling pressure intensifies
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Summary
- U.S. spot Bitcoin ETFs saw net outflows totaling $400.24 million for a third straight trading session.
- Large outflows from BlackRock’s IBIT, Fidelity’s FBTC, Grayscale’s GBTC and the Grayscale Mini Trust, and ARKB increased downward pressure.
- Bitwise’s BITB and WisdomTree’s BTCW logged modest inflows, but they were insufficient to offset selling by major asset managers.
U.S. spot Bitcoin exchange-traded funds (ETFs) posted net outflows for a third consecutive session.
According to data from TraderT on the 8th (local time), a total of $400.24 million flowed out of the 11 U.S. spot Bitcoin ETFs on the day.
BlackRock led the selloff. Its IBIT saw $194.64 million in outflows. Fidelity’s FBTC also extended the selling pressure, recording net outflows of $120.52 million. Grayscale’s GBTC and the Grayscale Mini Trust (BTC) added to the downside pressure with outflows of $73.09 million and $7.24 million, respectively. ARK Invest’s ARKB also saw $9.63 million exit.
Buying was muted. While Bitwise’s BITB and WisdomTree’s BTCW attracted inflows of $2.96 million and $1.92 million, respectively, they were not enough to absorb the heavy selling from major asset managers. The remaining ETFs, including Invesco’s BTCO and Franklin Templeton’s EZBC, ended the session with no fund-flow changes.
