The U.S. spot Bitcoin exchange-traded fund (ETF) recorded total daily net outflows of $174.45 million on Monday, recording negative flows for the seventh consecutive day.
Grayscale’s GBTC led the outflow with $90 million, and Fidelity’s FBTC reportedly recorded an outflow of $35 million yesterday. data In small value.
Franklin Templeton’s EZBC reported a net outflow of $20.8 million, its first net outflow since May 2. Several other funds saw net outflows on Monday. VanEck’s HODL resulted in a $10 million outflow. Bitwise’s BITB hit $8 million. Ark Invest and 21Shares’ ARKB fund experienced an outflow of $7 million. BTCO from Invesco and Galaxy Digital also reported outflows of $2 million.
BlackRock’s IBIT, the largest spot Bitcoin ETF by net asset value, recorded zero flows on Monday, along with funds from Valkyrie, WisdomTree, and Hashdex. There are no net inflows of funds reported.
Bitcoin falls
The outflow comes as Bitcoin briefly fell below $60,000 on Monday, hitting its lowest point in nearly six weeks. It is trading at $61,191 at the time of publication, down 2.36% in the last 24 hours. The Block’s Bitcoin price page.
The decline in Bitcoin prices was triggered by defunct cryptocurrency exchange Mt. Mt., which declared bankruptcy in 2014 after suffering multiple hacks. This follows a major announcement from Gox. Mt. Gox announced the following plans on Monday: distribute $9 billion Starting in July, creditors will be repaid in Bitcoin and Bitcoin Cash.
analysts told The Block. On Monday, Mt. Gox’s announcement raised concerns among investors about an influx of supply that could potentially be liquidated once it is received, a “classic ‘sell the news’ scenario,” it said.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.