Spot bitcoin exchange-traded funds in the U.S. saw a total net outflows of $11.29 million on Thursday, with all of them recording zero or positive daily net inflows except for Grayscale’s GBTC.
BlackRock’s IBIT fund led net inflows on Thursday with $14 million and Bitwise followed with $7 million worth of inflows, according to data from SoSoValue. Funds from Fidelity, Ark Invest, Invesco and Galaxy Digital, and Franklin Templeton logged single-digit net inflows that totaled $11 million. The inflows were overshadowed by GBTC’s $43 million net outflows, while remaining spot bitcoin ETFs from VanEck, Valkyrie, WisdomTree and Hashdex recorded zero flows on Thursday.
Since listing in January, U.S. spot bitcoin ETFs have accumulated a net inflow of $11.76 billion. The total trading volume of these ETFs is on a gradual decline since hitting its peak in early March, when bitcoin hit its all-time high, The Block’s data showed. The price of bitcoin stood at $62,764 at the time of publication, making a 2% recovery in the past 24 hours, according to The Block's Price Page. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures.
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