In recent weeks, the spot ETFs of Bitcoin ($BTC) have been receiving significant inflows. Nonetheless, according to a prominent on-chain statistics provider SpotOnChain, the ETFs experienced a huge outflow of up to $64.9318 million yesterday. This took place after 19-day consecutive inflows. The on-chain analytics platform took to the social media platform X to provide details about the individual exchange-traded funds.
BTC Spot ETFs Go Through Hefty Outflow Following Inflows for Consecutive 19 Days
The platform noted that the net inflows on the
Bitcoin$101,730.00
GBTC Experiences $39.5366M in Outflows
In line with the statistics that Spot On Chain provided, Grayscale saw an outflow of up to $39.5366 million. The outflow of such a huge amount raises the eyebrows of the market onlookers. In this way, the exchange-traded fund took the 1st position among the others in terms of outflows. On the other hand, another ETF ‘BITB’ of Bitwise also recorded inflows of up to $7.5910M.
Because of the enormous ETF outflows, a well-known exchange-traded fund ‘IBIT’ of BlackRock also witnessed a massive impact. SpotOnChain brought to the front that the BlackRock ETF’s single-day inflow went through a dramatic plunge. Hence, IBIT’s inflow declined to just $6.3 million. Formerly, the ETF was enjoying $168 million in inflows. Following this development, the price market price of the Grayscale ETF has touched $61.73. On the other hand, the BlackRock and Bitwise ETFs have reached market prices of $39.59 and $37.87 respectively.
