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Summary

US spot Bitcoin ETFs recorded net outflows for three consecutive sessions.
Large sums flowed out of BlackRock’s IBIT, Fidelity’s FBTC, Grayscale’s GBTC and the Grayscale Bitcoin Mini Trust BTC, and ARK Invest’s ARKB.
Small inflows into Bitwise’s BITB and WisdomTree’s BTCW failed to offset selling pressure from major asset managers.

US spot Bitcoin exchange-traded funds (ETFs) posted net outflows for a third straight session.

According to TraderT data on the 8th (local time), a total of $402.4 million flowed out of 11 US spot Bitcoin ETFs that day.

BlackRock led the decline. Its IBIT saw $194.64 million in outflows. Fidelity’s FBTC also extended selling pressure, logging net outflows of $120.52 million. Grayscale’s GBTC and the Grayscale Bitcoin Mini Trust (BTC) recorded outflows of $73.09 million and $7.24 million, respectively, adding to downside pressure. ARK Invest’s ARKB also shed $9.63 million.

Buying interest was muted. Bitwise’s BITB and WisdomTree’s BTCW took in $2.96 million and $1.92 million, respectively, but that was not enough to absorb selling by major asset managers. The remaining ETFs, including Invesco’s BTCO and Franklin Templeton’s EZBC, ended the session with no change in flows.