Forecast Trend Report by Period
More than $100 million exited the US spot-Bitcoin exchange-traded fund market in a single day.
The 13 spot-Bitcoin ETFs listed in the US posted combined net outflows of $105.19 million on May 22, according to SoSoValue. The withdrawals extended the streak of net outflows to six consecutive trading sessions.
BlackRock's IBIT, the largest fund by assets, led the outflows with $68.89 million, equal to about 906 Bitcoin. Fidelity's FBTC followed with $36.29 million, or roughly 477 Bitcoin.
The other 11 ETFs, including Grayscale's GBTC, Bitwise's BITB and ARK 21Shares' ARKB, recorded no inflows or outflows that day.
The fund withdrawals came as macroeconomic uncertainty continued to build. After Kevin Warsh took office as Federal Reserve chair, market expectations for interest-rate cuts this year have all but disappeared. Bitcoin also slipped below $76,000, chilling investor sentiment toward the funds.
Market anxiety has widened further after Strategy said it plans to sell Bitcoin this year. Bitcoin was trading around $75,600 on Binance's USDT market. It was the first time the token had fallen below $76,000 since April 20.
