Investor interest in spot Bitcoin exchange-traded funds (ETFs) appears to be waning, with outflows totaling $218 million in the past day.
According to data from Farside Investors, BlackRock’s IBIT Bitcoin ETF experienced its second consecutive day of zero flows, while Fidelity’s FBTC saw its first daily net outflow, totaling $23 million.
Other US Bitcoin funds experienced notable daily outflows. Grayscale GBTC fund continued its outflow trend, losing $139.37 million, while $31.34 million exited Ark Invest and 21Shares’ ARKB fund. Additionally, Valkyrie’s fund experienced $20.16 million in outflows, and Bitwise saw a negative flow of $6 million.
In contrast, Franklin Templeton’s EZBC emerged as the only fund with daily net inflows, attracting $1.87 million.
Despite these significant outflows, net inflows into the ETFs have surpassed $12 billion since their launch in January.
Table showing the flows for Bitcoin ETFs in the US from April 8 to April 25, 2024 (Source: Farside)
Why
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