{"id":28075,"date":"2024-08-30T20:00:35","date_gmt":"2024-08-30T17:00:35","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=28075"},"modified":"2024-08-30T13:23:12","modified_gmt":"2024-08-30T10:23:12","slug":"bitcoin-etfs-face-outflow-as-blackrocks-decline","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-etfs-face-outflow-as-blackrocks-decline\/","title":{"rendered":"Bitcoin ETFs Face Outflow as BlackRock’s IBIT and GBTC Lead the Decline"},"content":{"rendered":"

On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs)<\/strong> had notable net outflows of $71.73 million<\/strong>, therefore extending their outflow run over three straight days. Data from SosoValue shows BlackRock’s IBIT<\/strong>, the biggest spot bitcoin ETF by net assets, recorded $13.51 million in outflows\u2014the first negative flow for the fund since May 1\u2014led the fall.<\/p>\n

While Fidelity’s FacebookTC witnessed $31.11 million in net withdrawals, Grayscale’s GBTC<\/strong> followed its outflow pattern and $22.68 million left the fund. Other money was not spared too; Bitwise’s BITB<\/strong> saw $8.09 million in withdrawals while Valkyrie’s BRRR had $1.68 million leaving the fund. Reporting net inflows of $5.34 million, Ark and 21Shares’ ARKB was the only spot Bitcoin ETF to defy the trend.<\/p>\n

Indicating a more general slowing in trading activity, the overall daily trading volume for the 12 spot bitcoin ETFs decreased dramatically to $1.64 billion on Thursday, from $2.18 billion the day before.<\/p>\n

After a little period of small positive inflows, U.S. spot Ethereum ETFs<\/strong> resumed their negative flow pattern and reported $1.77 million in net outflows on Thursday. Losing $5.35 million, the Grayscale Ethereum Trust (ETHE) was the main force behind these outflows. Net inflows of $3.57 million into the Grayscale Ethereum Mini Trust (ET) somewhat offset this. On Thursday the remaining seven spot ether funds showed little change.<\/p>\n

Reflecting lower investor interest in the market, the overall trading volume for the nine spot Ethereum ETFs also dropped, from $151.57 million on Wednesday to $95.91 million.<\/p>\n

These patterns draw attention to continuous difficulties in the bitcoin ETF market as investors remain wary in changing market circumstances.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i>Telegram, <\/span><\/i><\/a>YouTube<\/span><\/i><\/a>, and <\/span><\/i>Twitter<\/span><\/i><\/a> channels for the latest <\/span><\/i>news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) had notable net outflows of $71.73 million, therefore extending their outflow run over three straight days. Data from SosoValue shows BlackRock’s IBIT, the biggest spot bitcoin ETF by net assets, recorded $13.51 million in outflows\u2014the first negative flow for the fund since May 1\u2014led the fall. While<\/p>\n","protected":false},"author":6,"featured_media":10988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1,2],"tags":[2072,535,2093,4617],"class_list":["post-28075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","category-news","tag-bitcoin-etfs","tag-blackrock","tag-gbtc","tag-ibit"],"yoast_head":"\nBitcoin ETFs Face Outflow as BlackRock's IBIT and GBTC Lead the Decline - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-etfs-face-outflow-as-blackrocks-decline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin ETFs Face Outflow as BlackRock's IBIT and GBTC Lead the Decline - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) had notable net outflows of $71.73 million, therefore extending their outflow run over three straight days. 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