Galaxy

Bitcoin

Million

<h2 id="key-points">Key Points</h2>
<ul>
 <li>US spot Bitcoin ETFs witness net outflows of $226 million, with Fidelity’s FBTC experiencing the largest outflow.</li>
 <li>Despite the outflows, the 11 spot Bitcoin ETFs in the US have accumulated a total net inflow of $15.30 billion since their January listing.</li>
</ul>
<h2 id="us-bitcoin-etfs-see-significant-outflows">US Bitcoin ETFs See Significant Outflows</h2>
<p>The 11 US spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded funds (ETFs) reported large net outflows of $226.21 million in a single day.</p>
<p>Fidelity’s FBTC fund recorded its second-largest net outflow day since its inception, with $106 million moving out of the fund, as per data from SoSoValue.</p>
<h2 id="other-funds-also-experience-outflows">Other Funds Also Experience Outflows</h2>
<p>Other funds such as Grayscale’s GBTC and Ark Invest and 21Shares’ ARKB also experienced outflows of $62 million and $53 million respectively.</p>
<p>Bitwise and VanEck’s funds saw net outflows worth around $10 million, while Invesco and Galaxy Digital’s BTCO experienced $3 million in net outflows.</p>
<p>The only fund to report a net inflow was BlackRock’s IBIT, the largest spot Bitcoin fund in terms of net asset value, which drew in $18 million.</p>
<p>Despite the outflows, these 11 spot Bitcoin ETFs have accumulated a total net inflow of $15.30 billion since their listing in January.</p>
<p>Meanwhile, the price of Bitcoin has decreased by 1.48% in the past 24 hours to $66,704.</p>
<p>In other news, the Securities and Exchange Commission (SEC) Chair, Gary Gensler, has indicated that the regulatory body might make a decision on the spot <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> funds during this summer.</p>
<p>The SEC gave preliminary approval for spot Ethereum ETF applications last month, and the issuers are now awaiting the green light for their S-1 registration statements for an official launch.</p>
<p>Analysts anticipate that spot Ethereum funds could attract up to 20% of investments currently flowing into spot Bitcoin ETFs.</p>
<p>However, some believe that institutional investors may find the spot Ethereum funds unattractive as issuers have removed the staking components from the ETFs due to regulatory uncertainty.</p>

Fidelity’s FBTC Spearheads $226 Million Net Outflows in US Bitcoin ETFs

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