Spot Bitcoin ETFs See BlackRock’s IBIT Log first Outflows since May

Key points:

• Spot Bitcoin ETFs saw $71.73 million in net outflows on Thursday.
• BlackRock’s IBIT logged $13.51 million in outflows, marking its first daily negative flows since May 1.

Spot Bitcoin ETFs saw $71.73M in net outflows on Thursday, extending a three-day streak, with BlackRock’s IBIT recording its first negative flows since May.

Spot Bitcoin ETFs See Continued Outflows

Spot Bitcoin ETFs saw $71.73 million in net outflows on Thursday, marking the third straight day of negative flows. BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, saw its first net outflow since May 1, with $13.51 million in negative outflows, according to data from SosoValue. Grayscale’s GBTC continued the outflow trend, losing $22.68 million, while Fidelity’s FBTC saw $31.11 million in outflows.

Bitwise’s BITB and Valkyrie’s BRRR also saw outflows of $8.09 million and $1.68 million, respectively. The only spot Bitcoin ETFs to see net inflows were 21Shares’ Ark and ARKB, which increased by $5.34 million. Overall, the total trading volume of the 12 spot Bitcoin ETFs fell to $1.64 billion, down from $2.18 billion the previous day.

Read more: Spot Bitcoin ETFs End 8-day Inflow Streak with $127M Outflows

Modest Outflows in Spot Ether ETFs

Spot Ether ETFs also reported modest outflows on Thursday, continuing their negative trend with $1.77 million in net outflows. Grayscale’s Ethereum Trust (ETHE) led the outflows, with $5.35 million leaving the fund. This was partially offset by a net inflow of $3.57 million into the Grayscale Ethereum Mini Trust (ETH). The other seven spot Ether ETFs saw no outflows on Thursday.

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