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Bitcoin ETFs Face First Outflows After Week of Strong Inflows

Bitcoin ETFs Face First Outflows After Week of Strong Inflows

CryptodnesCryptodnes2024/10/23 10:57
By:Cryptodnes

On Tuesday, spot Bitcoin ETFs in the U.S. experienced their first net outflows after a week of significant inflows, totaling over $2.67 billion.

According to data from Farside, 12 spot Bitcoin ETFs saw a combined outflow of $79.09 million. The bulk of this came from Ark and 21Shares’ ARKB, which lost $134.74 million.

Notably, BlackRock’s IBIT, the largest spot Bitcoin ETF, attracted $42.98 million, while Fidelity’s FBTC gained $8.85 million and VanEck’s HODL added $3.82 million. However, Grayscale’s GBTC and seven other funds saw no change in flows.

After the outflow, the total inflows across the 12 Bitcoin ETFs fell to $21.15 billion. Trading activity also dropped, with volumes decreasing from $1.76 billion on Monday to $1.4 billion.

READ MORE:
Will Bitcoin Options Trading Ignite Market Volatility?

The recent inflows had aligned with Bitcoin’s rally, which hit $69,400 on Monday. During this time, BlackRock’s IBIT alone brought in $1.5 billion, showing strong investor demand.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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