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Spot Bitcoin ETF Outflow Continues For 6th Consecutive Day Amid Market Chaos

Key Points:

Spot Bitcoin ETF outflow reached $4.3876 million on April 18, led by Grayscale’s GBTC.
Fidelity’s FBTC had the highest net inflow at $37.3959 million, with BlackRock’s IBIT following closely.
Despite market concerns, Eric Balchunas considers recent ETF outflows minimal, representing only 1% of total net inflows since inception.

Amidst fluctuations in the cryptocurrency market, recent data from SoSoValue reveals intriguing trends in Bitcoin Exchange-Traded Funds (ETFs) activity.

Source: SoSoValue

Bitcoin ETF Outflows Dominate, Fidelity and BlackRock Stand Out

On April 18, spot Bitcoin ETF outflow amounted to $4.3876 million. Notably, Grayscale’s GBTC experienced a substantial net outflow of $89.9918 million, contributing to its historical net outflow of $16.685 billion.

Contrary to the GBTC outflows, Fidelity’s FBTC emerged as the frontrunner among spot Bitcoin ETFs, witnessing a net inflow of $37.3959 million on the same day. Impressively, FBTC’s historical total net inflow has soared to $8.087 billion. Following closely, BlackRock IBIT recorded a net inflow of $18.7627 million, with a historical total net inflow standing at $15.392 billion.

Remarkably, BlackRock Bitcoin ETF remains the sole United States-based spot Bitcoin fund to observe inflows since its launch, while others either recorded zero inflows or experienced downturns.

Spot Bitcoin ETFs Experience Mixed Activity Amidst Volatility

The recent decline in spot Bitcoin ETF activity coincides with tax filing season in the United States and heightened tensions in the Middle East. Consequently, Bitcoin‘s price experienced a notable downturn, mirrored by Bitcoin ETF outflows.

Bloomberg analyst Eric Balchunas offers a tempered perspective on these developments. Despite concerns over the price decline and its correlation with Bitcoin ETF outflows, Balchunas views the recent outflows as insignificant. He underscores that these outflows constitute a mere 1% of the ETF’s net inflows since inception, categorizing the current outflow as “microscopic.”

At present, the total net asset value of spot Bitcoin ETFs stands at $53.063 billion, with an ETF net asset ratio of 4.25%. Cumulatively, historical net inflows have surpassed $12.262 billion.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.