On Monday, unlike their ethereum counterparts, spot bitcoin exchange-traded funds (ETFs) witnessed outflows totaling $168.44 million. The primary contributors to this decline were three funds, with Grayscale’s GBTC taking the lead in outflows.
3 Leading Bitcoin ETFs Experience Major Outflows
Grayscale’s Bitcoin Trust (GBTC) experienced a significant outflow of $69.12 million, bringing its total net divestments since Jan. 11, 2024, to $19.13 billion. GBTC wasn’t alone in facing losses; Ark Invest’s and 21shares’ ARKB shed $69 million, while Fidelity’s FBTC saw a $58.04 million decrease, according to sosovalue.xyz and coinglass.com metrics.
Despite these losses, three other funds managed to secure gains. Grayscale’s Mini Bitcoin Trust, referred to as “BTC,” gained $21.81 million. Vaneck’s HODL added $3 million, and Bitwise’s BITB absorbed $2.9 million.
Meanwhile, Blackrock’s IBIT, along with BRRR, BTCO, EZBC, BTCW, and DEFI, remained steady with no changes. Collectively, these 12 funds have attracted $17.34 billion in cumulative net inflows since they started trading in January.
The recently launched BTC or Mini Bitcoin Trust has quickly accumulated $240.81 million in positive inflows since it began trading. IBIT leads the pack in cumulative inflows, having gathered $20.10 billion to date. On the other end of the spectrum, the Hashdex DEFI spot BTC ETF has recorded the smallest inflows, totaling $2.1 million to date.
Monday’s trading was marked by significant activity, with a recorded volume of $5.24 billion. As of Aug. 6, 2024, these 12 spot BTC ETFs hold a combined $48.43 billion in BTC reserves, accounting for approximately 4.51% of bitcoin’s total market capitalization.
Source: Bitcoin
