Key Points:
According to data from SoSoValue, on May 10, total net outflows from spot Bitcoin ETFs amounted to $84.6581 million. This marks the second consecutive day of outflows for Bitcoin ETFs, with Grayscale Bitcoin ETF reporting an additional $103 million in outflows on Friday. In contrast, BlackRock’s iShares Bitcoin Trust (IBIT) experienced an inflow of $12.4363 million, and Fidelity’s FBTC saw $5.3039 million flowing in.
Despite this, the Grayscale Bitcoin ETF managed to record inflows totaling $66.9 million in May, breaking a streak of 78 consecutive days of outflows since its January launch. Notably, iShares Bitcoin Trust stands out, attracting nearly $16 billion in investments to date.
BTC dipped to $60,200 on May 10th amid bearish investor signals, leading to significant outflows from every U.S. spot Bitcoin ETF, including BlackRock’s IBIT, which experienced its first outflow since January.
Major banking institutions, such as JPMorgan and Wells Fargo, have disclosed their exposure to Bitcoin ETFs, highlighting continued institutional interest in the cryptocurrency market. JPMorgan revealed substantial holdings across various Bitcoin ETFs, demonstrating a diversified investment strategy in the sector. Similarly, Wells Fargo’s recent filing with the US SEC disclosed its ownership of 2,245 shares of the Grayscale Bitcoin ETF.
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. |
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