Key Points

• Ark Invest's ARKB spot Bitcoin ETF experienced a significant $100 million daily net outflow.
• Fidelity's FBTC led in net inflows with $119 million, while BlackRock's IBIT, Invesco, and Galaxy Digital's Bitcoin ETFs each saw $2 million in net inflows.

Ark Invest's ARKB spot Bitcoin exchange-traded fund (ETF) witnessed its highest daily net outflow to date, reaching almost $100 million, as reported by data from SoSoValue.

On the contrary, Fidelity's FBTC emerged as the leader in inflows, totaling $119 million.

Other Notable Movements

Notable fund activities were noted in BlackRock's IBIT and Invesco and Galaxy Digital's Bitcoin ETFs, with both funds experiencing $2 million in net inflows. Bitwise's BITB also gained $26 million in funds. However, Grayscale's GBTC, now the second-largest spot Bitcoin fund by net assets, had no flows registered.

Crypto Analyst Rachael Lucas from BTC Markets highlighted that the unusual flows in spot Bitcoin ETFs could be linked to investor uncertainty surrounding the Federal Reserve's interest rate trajectory.

Impact of Economic Reports

Lucas suggested that if U.S. inflation surpasses forecasts and personal income and spending trends increase, it might dampen investor confidence in a potential Fed rate reduction in September. A more hawkish Fed stance could decrease demand for riskier assets, including Bitcoin and related ETFs.

Over the past 13 days, spot Bitcoin ETFs in the U.S. recorded total net inflows exceeding $2 billion. Nonetheless, the overall flow volume in U.S. spot Bitcoin ETFs remained notably lower than the peak seen in March.

Moreover, Grayscale submitted its revised S-1 registration statement for its spot Ethereum fund shortly after BlackRock's filing. Further S-1 filings are anticipated as the SEC has set a deadline for issuers to submit their forms by Friday.