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Home»ADOPTION NEWS»Ark Invest’s spot Bitcoin ETF records daily net outflow of $100 million.
ADOPTION NEWS

Ark Invest’s spot Bitcoin ETF records daily net outflow of $100 million.

By Crypto FlexsMay 31, 20243 Mins Read
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Ark Invest’s spot Bitcoin ETF records daily net outflow of 0 million.
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The U.S. spot Bitcoin exchange-traded fund (ETF) recorded net inflows for the 13th consecutive day on Thursday, hitting $48.71 million. Yesterday, major fund movements were discovered in two Bitcoin funds: Fidelity and Ark Invest and 21Shares.

Fidelity’s FBTC led net inflows worth $119 million, while Ark’s ARKB recorded net outflows worth nearly $100 million. data From SoSoValue. ARKB’s outflow on Thursday marked its largest since its debut in January.

BlackRock’s IBIT, the largest spot Bitcoin fund by net assets, recorded net inflows of $2 million. Grayscale’s GBTC, which recently became the second largest, has zero flow. Bitwise’s BITB added $26 million worth of funds, while Invesco and Galaxy Digital’s Bitcoin ETF reported net inflows of $2 million.

Rachael Lucas, cryptocurrency analyst at BTC Markets, told The Block: “The unusual spot Bitcoin ETF flows have been influenced by investor uncertainty about the Federal Reserve’s interest rate path, especially in anticipation of the key economic report due in the US on May 31. “It appears that he has received it,” he said.

“If U.S. inflation figures exceed expectations and personal income and spending trends rise, investor optimism about a possible rate cut by the Federal Reserve in September could be dampened. A more hawkish Fed could negatively impact demand for riskier assets, including Bitcoin and related ETFs,” Lucas said.

Over the past 13 days, U.S. spot Bitcoin ​​ETFs have seen net inflows totaling over $2 billion. The fund is enjoying its second-longest positive streak since listing, following a 17-day streak that began in January.

However, total flows in U.S. spot Bitcoin ETFs remain well below the March peak, according to The Block’s data dashboard.

meantime, Grayscale application BlackRock amended its S-1 registration statement for its spot Ethereum fund on Thursday, a day after it was filed. It is expected that the SEC will file more S-1 filings, including: Contact the issuer Submit your form by Friday.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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