Thursday saw the largest outflow from ARKB since its launch in January. In the previous 13 days, U.S BTC ETFs recorded net inflows of over $2 billion. U.S. spot bitcoin exchange-traded funds have now experienced 13 consecutive days of net inflows, with a net inflow of $48.71 million. Yesterday, both Fidelity and Ark Invest and 21Shares saw significant movements in their bitcoin funds.
According to SoSoValue data, FBTC (Fidelity) led the way with net inflows of $119 million, while ARKB (Ark) experienced net withdrawals of nearly $100 million. This represents the largest outflow from ARKB since its launch in January.
BlackRock’s IBIT, the largest spot bitcoin fund in terms of net assets, received approximately $2 million in inflows. Grayscale’s GBTC, despite becoming the second largest, did not see any flows. Invesco and Galaxy Digital’s bitcoin ETF had net inflows of $2 million, while Bitwise’s BITB received $26 million.
Uncertainty among investors regarding the future of interest rates set by the Federal Reserve appears to be driving the unusual movements in spot bitcoin ETFs, particularly leading up to the release of key US economic data on May 31.
Over the past thirteen days, U.S. spot bitcoin ETFs recorded net inflows of more than $2 billion. This positive streak is the second longest since the funds were listed, following a seventeen-day period of net inflows that began in January. The Block’s data dashboard indicates a significant decrease in volume from March’s high flows in U.S. spot bitcoin ETFs.
On Thursday, just one day after BlackRock submitted its updated S-1 registration statement, Grayscale also submitted its S-1 form for its spot Ethereum fund. The SEC is reminding issuers to file their S-1 forms by Friday, suggesting an anticipated surge in submissions.
In other crypto news today, Senator McHenry is urging the Senate to approve the FIT21 bill ahead of the election.