The Bitcoin ETF issued by BlackRock recently recorded its first outflow in nearly four months. This event occurred after a significant period of consistent inflows or no movement.
IBIT Sees First Daily Outflow Since May
According to Farside Investors, investors withdrew $13.5 million from the IBIT fund on August 29. The last negative flow was recorded on May 1, amounting to $36.9 million. Since then, the fund has either witnessed inflows or zero flows.
ETFs on 3-Day Outflow Streak
The US spot Bitcoin ETF market is also seeing a three-day streak of outflows. On August 27, $127.1 million was withdrawn, followed by $105.3 million on August 28, and another $71.8 million on August 29. During this period, only Ark Invest's ARKB showed inflows totaling $5.3 million, while other funds recorded either outflows or no action
Overall ETF Market Performance
Despite the recent negative flows, the total net assets of the US spot Bitcoin ETF market account for 4.62% of bitcoin's market cap. Since launch, the funds have seen cumulative net inflows of $17.78 billion, with total assets under management (AUM) of $50 billion.
In the long term, the trend for cryptocurrency ETFs remains positive, despite recent outflows over the last three days. Investors will continue to monitor further market developments.
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