On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) experienced net outflows of approximately $18.3 million, contrasting with inflows observed in their ethereum counterparts. The most significant gain was recorded by Blackrock’s IBIT, while Grayscale’s GBTC suffered the largest losses.
US Bitcoin ETFs Record $18.3 Million in Net Outflows
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$18.3M Net Outflows in U.S. Bitcoin ETFs; GBTC Hit Hardest
The total reduction across the 11 spot bitcoin ETFs amounted to $18.3 million, bringing cumulative net inflows down to $17.69 billion since Jan. 11, 2024. Notably, despite the overall decline, nine U.S. ether ETFs registered inflows on the same day. Blackrock’s IBIT saw a $74.87 million increase, pushing its holdings to 342,658.96 BTC, valued at more than $22 billion. IBIT was the only fund to post gains on Tuesday, while five others recorded outflows, with GBTC seeing the most significant reduction.
Grayscale’s GBTC experienced a $73.6 million decline, contributing to a total loss of $18.4 billion since it became publicly traded. Ark Invest’s and 21shares’ ARKB decreased by $7.88 million, and Vaneck’s HODL saw a $5.58 million divestment. Bitwise’s BITB lost $3.23 million, while Fidelity’s FBTC recorded $2.88 million in outflows. The funds’ BRRR, BTCO, BTCW, EZBC, and DEFI reported neither inflows nor outflows.
Grayscale is set to launch its Mini Bitcoin Trust, referred to as “ BTC,” on Wednesday, similar to its Mini Ethereum Trust ( ETH). This introduction could potentially impact the dynamics of GBTC and other funds. On Tuesday, approximately $1.37 billion in trade volume was settled, with the 11 funds collectively holding $58.51 billion in BTC. This reserve accounts for roughly 4.48% of BTC’s market capitalization, according to data from sosovalue.xyz.
What do you think about the U.S. bitcoin ETF trading action on Tuesday? Share your thoughts and opinions about this subject in the comments section below.
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