On Tuesday, U.S. Bitcoin ETFs experienced a sharp decline in activity, with combined outflows reaching $79.09 million, according to data from SoSoValue. This came after BlackRock’s IBIT fund managed to keep inflows positive on Monday, but its Tuesday purchase of $42.98 million in Bitcoin wasn’t enough to offset broader outflows across all 11 funds.
The main driver behind the outflows was Ark Invest’s ARKB, which sold $134.74 million in Bitcoin. It was the only fund that offloaded Bitcoin that day, and this significant sale overshadowed the inflows seen in a few other funds.
Despite the broader negative trend, a couple of funds added to their Bitcoin holdings. Fidelity’s FBTC fund brought in $8.85 million, while VanEck’s HODL fund acquired $3.82 million. Meanwhile, other funds, including Grayscale’s GBTC, Bitwise’s BITB, Invesco’s BTCO, Valkyrie’s BRRR, Grayscale’s BTC, Franklin Templeton’s EZBC, and WisdomTree’s BTCW, did not record any inflows or outflows.
At the time of writing, Bitcoin is trading at $67,130, reflecting a 0.40% decline over the last 24 hours, according to CoinMarketCap data.