Étienne Girard
After an impressive 10-day inflow streak that brought over $4.26 billion into US spot Bitcoin ETFs, the market hit a speed bump on Thursday. According to data from SoSoValue, the 12 spot Bitcoin ETFs collectively saw $358.6 million in net outflows, marking the largest single-day withdrawal since March 11.
Despite the broader outflows, BlackRock’s iShares Bitcoin Trust (IBIT) stood out as the only ETF to attract capital, pulling in $125 million in new funds. This underscores IBIT’s continued dominance in the Bitcoin ETF landscape and its growing appeal among institutional investors.
Fidelity, Grayscale, and ARK Lead the Pullback
Not all ETFs shared IBIT’s momentum. Fidelity’s FBTC saw the largest single-day outflow at $166.32 million, while Grayscale’s GBTC followed closely with $107.53 million in exits. ARK 21Shares’ ARKB reported $89.22 million in outflows, and Bitwise’s BITB recorded $70.85 million in redemptions. Additional losses were logged by funds operated by VanEck, Valkyrie, Invesco, and Franklin Templeton.
Market Volatility Spurs Heavy Trading Activity
The reversal in flows was accompanied by heightened trading activity. Total trading volume across the BTC ETFs reached $5.39 billion, a significant jump from $3.5 billion the day before.
The correction comes just after cumulative net inflows across all spot BTC ETFs reached $45.34 billion on Wednesday, slipping slightly to $44.99 billion by Thursday’s close.
BTC and Ether Prices Take a Hit
In tandem with the ETF outflows, Bitcoin’s price dipped by 1.97% over the past 24 hours, trading at $104,143, while Ether dropped 3.3% to $2,639, according to PRIME’s price data.
Interestingly, while BTC ETFs faced withdrawals, U.S.-listed spot Ethereum ETFs recorded $91.93 million in net inflows on Thursday, marking nine straight days of positive flow. The trend signals continued investor interest in Ether exposure, even as Bitcoin funds face a brief cooldown.
