On Thursday, spot Bitcoin ETFs experienced significant net outflows totaling $71.8 million, the third consecutive day of outflows.
BlackRock’s IBIT, the largest spot Bitcoin ETF by net asset size, recorded its first net outflow since May 1, with negative flows of $13.5 million. Grayscale’s GBTC continued to face investor withdrawals, losing $22.7 million, while Fidelity’s FBTC faced outflows of $31.1 million.
Other spot Bitcoin ETFs, such as Bitwise’s BITB and Valkyrie’s BRRR, also saw outflows of $8.1 million and $1.7 million, respectively.
However, ARKB was an exception, recording net inflows of $5.3 million.
Spot ETFs also saw negative movement, albeit on a smaller scale, with net outflows of $1.7 million on Thursday.
Grayscale’s Ethereum Trust (ETHE) led the losses, with $5.3 million withdrawn. This was somewhat offset by net inflows of $3.6 million into the Grayscale Ethereum Mini Trust (ETH). The other seven spot Ethereum ETFs saw no outflows on the day.
Russia, under mounting financial sanctions, is cautiously testing the waters of regulated cryptocurrency investment.
Japanese investment firm Metaplanet has bolstered its Bitcoin holdings with a fresh purchase of 162 BTC, pushing its total stash to 3,050 BTC.
Despite Bitcoin’s price struggles, large investors have continued to accumulate, adding over 65,000 BTC in the past month.
Raoul Pal, CEO of Real Vision and a former Goldman Sachs executive, anticipates a surge in Bitcoin and other digital assets as global liquidity expands.