On Monday, Bitcoin ETFs in the United States saw a challenging start to the week, with the funds collectively recording outflows of $438.38 million as per SoSoValue data. This comes after a record-breaking week that brought in over $3 billion in inflows. While some funds managed to attract fresh capital, others experienced notable outflows, signaling a mixed sentiment in the market.
BlackRock’s IBIT fund was the top performer, adding $267.79 million to its holdings. Grayscale’s BTC also saw a modest inflow of $0.40 million. However, these gains weren’t enough to offset the losses seen across other funds.
Outflows Across Major Funds
The biggest outflows were recorded by Bitwise’s BITB, which lost $280.73 million. Grayscale’s GBTC followed with outflows of $158.24 million, and Fidelity’s FBTC saw $134.72 million leave the fund. ARK Invest’s ARKB wasn’t far behind, losing $110.88 million.
Other funds also struggled to hold onto their Bitcoin positions:
- Invesco’s BTCO: $10.89 million outflows
- VanEck’s HODL: $8.05 million outflows
- Valkyrie’s BRRR: $3.09 million outflows
Meanwhile, Franklin Templeton’s EZBC and WisdomTree’s BTCW recorded no inflows or outflows for the day.
Bitcoin Price Update
Bitcoin is currently trading at $94,500, down slightly over 3.5% in the past 24 hours. The price dip adds to the cautious mood among investors, which might explain the ETF outflows.
A Mixed Start to the Week
While BlackRock’s IBIT fund continues to lead the pack, Monday’s numbers show a broader pullback in the Bitcoin ETF market. With Bitcoin’s price movement and investor sentiment fluctuating, we’ll continue to monitor the daily inflows and outflows to provide a clearer picture of the ongoing trends. Stay tuned for updates as the week unfolds