Bitcoin

when

April

Spot

<ul>
 <li>A massive outflow of $328 million was shown throughout the week.</li>
 <li>Grayscale’s GBTC was the most heavily affected ETF.</li>
</ul>
Net flows for Bitcoin Spot ETFs in the US showed significant volatility for the week ending April 26, 2024. Additionally, when they lost momentum, these ETFs had a huge $328 million net outflow for the week. In addition, the <a href="https://thenewscrypto.com/former-grayscale-director-predicts-bitcoin-price-drop-to-52k/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> price fell just before this outflow spiked, which may have been the catalyst for the decline.
The week started out well, with $62.02 million in net inflows across several Spot BTC ETFs. At the same time, Fidelity’s FBTC had a substantial single-day net inflow of $34.83 million, while Grayscale’s GBTC saw a net outflow of $34.99 million. An additional $19.4 million came in for <a href="https://thenewscrypto.com/blackrock-denies-any-commercial-relationship-with-hedera-hashgraph/" target="_blank" rel="noopener noreferrer nofollow">BlackRock’s</a> IBIT Bitcoin ETF.
<h3 class="wp-block-heading" id="h-substantial-volatility">Substantial Volatility</h3>
Additionally, statistics from Farside UK showed that there were net inflows of $31.6 million into Bitcoin ETFs on Tuesday, April 23, continuing the bullish trend. In contrast to <a href="https://www.grayscale.com/" target="_blank" rel="noopener noreferrer nofollow">Grayscale’s</a> greater withdrawals on the same day, substantial inflows were driven by BlackRock’s IBIT and Ark 21Shares’ ARKB.
Following that, on Wednesday, April 24, a change happened, and trade volumes peaked at the same time as net withdrawals totaled $120 million. The most significant outflow occurred in Grayscale’s GBTC, while the most significant net inflow occurred in <a href="https://www.fidelity.com/" target="_blank" rel="noopener noreferrer nofollow">Fidelity’s</a> FBTC.
The outflows from Bitcoin ETFs reached a record $217 million across all ten Spot Bitcoin ETFs on Thursday, April 25. With $140 million leaving the market, Grayscale’s GBTC was the most heavily withdrawn ETF, although other ETFs also had large withdrawals.
The $83.6 million outflow continued on Friday, April 26, but it was slower for Grayscale’s GBTC than it had been on earlier days. Among exchange-traded funds (ETFs), only Ark 21Shares’ ARKB saw inflows. A small inflow of $5.4 million was seen in the ARKB Bitcoin ETF. A massive outflow of $328 million was shown throughout the week.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/former-grayscale-director-predicts-bitcoin-price-drop-to-52k/" target="_blank" rel="noopener noreferrer nofollow">Former Grayscale Director Predicts Bitcoin Price Drop to $52K</a>

Bitcoin ETFs in US Experience $328M Net Outflow in Volatile Week

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