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Home»ADOPTION NEWS»Spot Bitcoin ETF records largest daily net outflow ever
ADOPTION NEWS

Spot Bitcoin ETF records largest daily net outflow ever

By Crypto FlexsMay 2, 20242 Mins Read
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Spot Bitcoin ETF records largest daily net outflow ever
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Funding • May 2, 2024 1:00 AM EDT

Posted 1 minute ago In ~

U.S. spot Bitcoin exchange-traded funds (ETFs) recorded total net outflows of $563.7 million on Wednesday, according to data from SosoValue. This is the largest daily net outflow since its debut.

Fidelity’s FBTC experienced the largest net outflows among ETFs, with more than $191 million leaving the fund. This exceeded the $167.3 million net outflow recorded by SosoValue, Grayscale’s GBTC. data showed it

Ark Invest’s ARKB had the third largest daily net outflow of $98.1 million, followed by BlackRock IBIT with $36.9 million and Bitwise BITB with $29 million. This marks the first time BlackRock’s spot Bitcoin ETF has recorded daily net outflows.

All US spot Bitcoin ETFs recorded daily net outflows, except for Hashdex’s DEFI, which had zero net inflows on this day.

As of Wednesday, the 11 ETFs had cumulative net inflows of $11.2 billion.

“So the iShares Bitcoin ETF had day one outflows ($37 million),” said Nate Geraci, president of investment advisory The ETF Store. wrote From a post about X. “This is what ETFs do. “The inflow does not increase in a straight line.”

The hype around spot Bitcoin ETFs seemed to die down with monthly net outflows in April. Reached $343.5 million, closed inflows for three consecutive months. GBTC led outflows in April, with $2.5 billion leaving the ETF.


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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