Key Takeaways:
- U.S.-listed Bitcoin ETFs experienced outflows of over $226 million on Thursday, marking the third consecutive day of withdrawals.
- Fidelity’s FBTC saw the largest outflow at $106 million, followed by Grayscale’s GBTC with $62 million, and Ark Invest’s ARKB with $53 million.
- Despite a volatile week for Bitcoin, BlackRock’s IBIT recorded a net inflow of $18 million, while other ETFs saw no notable activity.
U.S.-listed Bitcoin ETFs experienced significant outflows, totaling over $226 million on Thursday, marking the third consecutive day of outflows this week.
Fidelity’s FBTC saw the largest withdrawal at $106 million, followed by Grayscale’s GBTC with $62 million, and Ark Invest’s ARKB with $53 million.
US spot bitcoin ETFs experience net outflows of $226 million led by Fidelity’s FBTC https://t.co/JQDSkwswxF
— The Block (@TheBlock__) June 14, 2024
Conversely, BlackRock’s IBIT recorded a net inflow of $18 million. Other ETFs, including those from Valkyrie, Franklin Templeton, Hashdex, and WisdomTree, had no notable activity.
Despite Wednesday being the only day this week with net inflows amounting to $100 million, the past three days have seen a net withdrawal of $564 million from Bitcoin ETFs.
🚨 Spot #Bitcoin ETFs saw net outflows of -$226.2M for Thursday. pic.twitter.com/fkE6uHHCTf
— Satoshi Stacker (@StackerSatoshi) June 14, 2024
This pattern mirrors the outflows of $1.2 billion over six days at the end of April.
The outflows coincide with a volatile week for Bitcoin and the broader crypto market, influenced by a key U.S. inflation report and the Federal Reserve meeting.
US spot bitcoin ETFs experience net outflows of $226 million led by Fidelity’s FBTC BUT BlackRock experienced inflows!!!
— Kyle Chassé (@kyle_chasse) June 14, 2024
BlackRock has more than $20 billion worth of BTC and they keep accumulating…
There's something in that.
U.S. inflation came in lower than expected, causing Bitcoin prices to briefly rise to $70,000 before falling back under $67,000 as traders took profits.
About The Author
Fleming Airunugba, a seasoned Web3 and crypto content expert, leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.
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