Bitcoin ETFs have been experiencing a significant outflow of funds over the past four consecutive trading days, totaling a whopping $714.4 million, according to data from Farside. This marks a notable streak of outflows, with the previous record set from April 24 to May 2, spanning seven consecutive trading days.
Among the major Bitcoin ETFs, Fidelity’s FBTC ETF saw a substantial outflow of $83.1 million, bringing its total net inflow to $9.2 billion. This is the fourth consecutive day of outflows for FBTC, totaling $361.6 million, nearing its previous record of five straight days of outflows. Bitwise’s BITB ETF also recorded a $7.0 million outflow, pushing its total net inflow to $2.0 billion. On the other hand, BlackRock’s IBIT ETF continued its trend of recording no outflows.
One of the significant highlights was Grayscale’s GBTC ETF, which experienced its largest outflow since June 11, totaling $62.3 million. The total outflows for GBTC now reach $18.3 billion, while total inflows for Bitcoin ETFs stand at $14.8 billion, according to Farside data.
Investors and market analysts are closely monitoring these outflows in the Bitcoin ETF market, as they could indicate shifting investor sentiment or market trends. It is essential to keep an eye on these developments to understand the broader implications for the cryptocurrency market as a whole.
Despite the outflows, the overall net inflows into Bitcoin ETFs remain substantial, indicating continued interest and investment in the cryptocurrency space. As the market continues to evolve and mature, it will be interesting to see how these outflows impact prices and investor behavior in the coming days and weeks. Stay tuned for more updates and insights on the dynamic world of Bitcoin ETFs.