Home » Bitcoin » Bitcoin ETFs Face First Outflows After Week of Strong Inflows

Bitcoin ETFs Face First Outflows After Week of Strong Inflows

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

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.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

Telegram

SHARE: SHARES
More Bitcoin News
No Comments yet!

Your Email address will not be published.