Apr 19, 08:55 AM

Bitcoin ETFs See Major Outflows; GBTC, ARKB Down, IBIT, FBTC Gain

Recent trends in the Bitcoin ETF market have shown significant outflows, with a total net outflow of $165 million recorded on one of the days, marking it as one of the largest outflow days on record. Notably, the Grayscale Bitcoin Trust (GBTC) experienced substantial outflows, totaling $133.1 million, while the Ark Invest Bitcoin ETF (ARKB) saw $42.7 million exit. This negative trend was also observed in the Bitwise Bitcoin ETF (BITB), which registered its first-ever day of outflows at $7.3 million. Despite these outflows, BlackRock's IBIT ETF managed to attract inflows of $18.8 million and Fidelity's FBTC ETF saw inflows of $37.4 million, albeit at a reduced rate of $18.1 million, the lowest so far for the IBIT fund. This period of outflows contrasts with the earlier part of the year when Bitcoin ETFs saw unprecedented demand, leading to over $55 billion in accumulations and driving Bitcoin prices to new highs.

#Bitcoin #Grayscale Bitcoin Trust #GBTC #Ark Invest Bitcoin ETF #Bitwise Bitcoin ETF #BlackRock #Fidelity

Written with ChatGPT (GPT-4).

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