U.S. spot Bitcoin ETFs see $400 million net outflow...selling pressure intensifies

Bloomingbit Newsroom

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.

Forecast Trend Report by Period

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.

BTC