BlackRock Spot Bitcoin ETF Records First Net Outflows Since May 1 As Bitcoin Drops Below $60K And ETFs Extend Outflow Streak
BlackRock’s spot Bitcoin ETF (exchange-traded fund) recorded its first net outflow since May 1 yesterday as the 12 BTC funds extended their negative flow streak to 3 days and the leading crypto dropped below $60K. BlackRock’s IBIT, which is the largest spot Bitcoin ETF by net assets, recorded $13.51 million in net outflows on Aug. 29, according to data from SosoValue. ARKB The Only Spot Bitcoin ETF To Record Net Inflows Yesterday Capital continued to flow out of Grayscale’s GBTC after $22.86 million left the fund’s reserves on Aug. 29. Similarly, Fidelity’s FBTC suffered net outflows of $31.11 million, while Bitwise’s BITB and Valkyrie’s BRRR posted respective outflows of $8.09 million and $1.68 million. The only spot Bitcoin ETF that recorded net inflows yesterday was Ark and 21Shares’ ARKB. This is after investors poured $5.34 million into the fund. In addition to the net outflows, the funds also saw their collective tradi...