Wednesday wasn’t the best day for U.S. Bitcoin ETFs, with outflows totaling $52.83 million, according to data from SoSoValue. Out of the 11 Bitcoin ETFs, only one—Grayscale’s BTC—managed to record inflows, albeit minimal with $2.66m, while three others saw outflows on the day.
The largest outflow came from Ark Invest’s ARKB, which saw $43.41 million leave the fund. Grayscale’s GBTC followed with $8.13 million in outflows, and Bitwise’s BITB also experienced losses, with $3.95 million flowing out.
Several funds, however, stayed relatively neutral for the day. These funds, including Fidelity’s FBTC, VanEck’s HODL, Invesco’s BTCO, Franklin & Templeton’s EZBC, WisdomTree’s BTCW, BlackRock’s IBIT, and Valkyrie’s BRRR, did not record any inflows or outflows, holding steady during a potentially volatile market.
Wednesday also saw the much-anticipated Federal Reserve rate cut, with a 50 basis point reduction officially announced. The announcement initially triggered a dip in Bitcoin’s price. However, during Asian trading hours early Thursday, Bitcoin rebounded and was trading around $62,000—up nearly 3% over the past 24 hours.
Given the positive price movement following the rate cut, we may see a shift in the inflow-outflow dynamic by the end of the week. It’s possible that Thursday could bring renewed interest and inflows into Bitcoin ETFs as the market reacts to the FED’s decision and Bitcoin’s recovery. We’ll be keeping an eye on how these funds respond in the coming days.
Stay tuned for daily updates on Bitcoin ETF inflows right here at HowToBuyBitcoin.org.