US Spot Bitcoin ETFs See $51.5 Outflows
Yesterday, spot Bitcoin ETFs in the United States experienced $51.5 million in net outflows.
Despite this, the Grayscale Bitcoin Trust was not the main culprit, as the majority of outflows came from the ARK 21Shares Bitcoin ETF with $31.34 million leaving the product.
GBTC also saw significant outflows of $24.66 million, according to data from SoSoValue. The Fidelity Wise Origin Bitcoin Fund also experienced a net outflow of $6.85 million.
However, some US spot Bitcoin ETFs did see net inflows on April 29. The Bitwise Bitcoin ETF gained the most with $6.84 million, followed by the Valkyrie Bitcoin Fund with $2.67 million and the Franklin Bitcoin ETF with $1.82 million.
Despite the recent outflows, the total net inflow for all US spot Bitcoin ETFs since receiving regulatory approval and listing is close to $12 billion. However, trading volumes have been gradually decreasing since reaching their peak on March 5.
