Bitcoin ETFs Face First Outflows After Week of Strong Inflows
23.10.2024 13:30 1 min. read Alexander Stefanov
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.
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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