On Wednesday, Bitcoin ETFs in the United States recorded their second consecutive day of outflows, highlighting a challenging week for these funds. After a net outflow of $127.05 million on Tuesday, Wednesday saw another $105.19 million leave the 11 Bitcoin ETFs, according to recent data from SoSoValue.
Despite the outflows, Bitcoin itself remained relatively stable, trading at $59,128 at the time of writing, with no significant price movement in the last 24 hours.
None of the ETFs recorded any inflows on Wednesday, marking a day of withdrawals across the board. Grayscale’s GBTC fund saw $7.98 million in outflows, while ARK Invest’s ARKB fund experienced a significant $159.27 million outflow, adding to its recent losses. Other notable outflows included Bitwise, which lost $8.73 million, Fidelity’s FBTC with $10.73 million, and VanEck with $10.07 million leaving its fund. Grayscale’s BTC fund also recorded $8.77 million in outflows.
Several ETFs did not record any movement for the day, including BlackRock, which had been the biggest gainer on Monday with $224 million but saw no new BTC added to its funds for the second day in a row. Franklin Templeton’s EZBC, WisdomTree, Invesco’s BTCO, and Valkyrie also reported no inflows.
As of Wednesday, the top three Bitcoin ETFs by assets under management are BlackRock’s IBIT with $21.22 billion, Grayscale’s GBTC with $13.38 billion, and Fidelity’s FBTC holding $10.62 billion.
This string of outflows could signal a cautious sentiment among investors, with the funds collectively losing ground in a market that remains uncertain and volatile in the recent weeks.
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