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Home»ADOPTION NEWS»BlackRock’s IBIT posts first net sales since May amid continued outflows from spot Bitcoin ETFs
ADOPTION NEWS

BlackRock’s IBIT posts first net sales since May amid continued outflows from spot Bitcoin ETFs

By Crypto FlexsAugust 31, 20242 Mins Read
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BlackRock’s IBIT posts first net sales since May amid continued outflows from spot Bitcoin ETFs
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U.S. spot Bitcoin exchange-traded funds (ETFs) saw a net outflow of $71.73 million on Thursday, extending the outflow streak to three days.

BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, reported negative flows for the first time since May 1, with net outflows reaching $13.51 million. data In SosoValue.

Grayscale’s GBTC continued its outflow streak on Thursday with $22.68 million flowing out of the fund, while Fidelity’s FBTC recorded a net outflow of $31.11 million. Bitwise’s BITB also saw $8.09 million flow out of the fund, while Valkyrie’s BRRR saw $1.68 million in outflows.

Ark and ARKB from 21Shares were the only ones in the running. Bitcoin Bitcoin

+1.02%
The ETF recorded net inflows of $5.34 million.

On Thursday, the total daily volume of the 12 spot Bitcoin ETFs fell to $1.64 billion, compared to $2.18 billion on Wednesday.

Spot Ether ETFs have seen small outflows.

Meanwhile, the US spot Ethereum Ethereum

+2.22%
ETFs resumed outflows on Thursday, recording a net outflow of $1.77 million after reporting modest positive inflows the previous day.

Grayscale Ethereum Trust (ETHE) was the only spot Ether ETF to report outflows of $5.35 million, which was offset by a net inflow of $3.57 million into Grayscale Ethereum Mini Trust (ETH).

The other seven spot ether funds had no inflows on Thursday.

Total trading volume across the nine ETFs fell from $151.57 million on Wednesday to $95.91 million on Thursday.

Bitcoin is down 0.3% over the last 24 hours, trading at around $58,984 at the time of writing, while Ether is down 0.29%, trading at $2,516. Price page of the block.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest 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, influential and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

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