{"id":290214,"date":"2024-04-26T10:59:03","date_gmt":"2024-04-26T05:29:03","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=290214"},"modified":"2024-04-26T10:59:03","modified_gmt":"2024-04-26T05:29:03","slug":"multiple-bitcoin-etfs-report-net-outflows-gbtc-outflows-cross-17-billion-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/multiple-bitcoin-etfs-report-net-outflows-gbtc-outflows-cross-17-billion-crypto-news\/","title":{"rendered":"Multiple Bitcoin ETFs Report Net Outflows, GBTC OutFlows Cross $17 Billion – Crypto News"},"content":{"rendered":"

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Spot Bitcoin ETFs in the United States recorded one of the biggest outflows so far in the month of April on Thursday. Yesterday, the total outflows across all ten spot Bitcoin ETFs stood at a staggering $217 million. The Grayscale Bitcoin ETF GBTC<\/a> led the pack with $140 million in outflows.<\/p>\n

Multiple Bitcoin ETFs See Outflows<\/h3>\n

Along with Grayscale\u2019s GBTC, several other Bitcoin ETFs recorded net outflows on Thursday. After GBTC, Ark Invest\u2019s Bitcoin ETF ARKB recorded the most outflows at $31.3 million, as per data<\/a> from Farside Investors. On the other hand, Fidelity\u2019s ETF FBTC recorded $22.6 million in outflows, Valkyrie\u2019s\u00a0ETF BRRR saw $20 million in outflows, and Bitwise\u2019s ETF BITB saw $6 million in outflows.<\/p>\n

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On the other hand, BlackRock\u2019s IBIT ETF saw the second consecutive day of zero inflows this week. This is indicating that after a strong start to Bitcoin ETF since its launch in January, fresh capital inflows in the asset class have been drying up. Despite the strong Bitcoin ETF trading activity<\/a>, the overall flows have turned negative for the time being.<\/p>\n

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The massive outflows from BTC ETF come just on the day when US stock indices faltered following weak US GDP Growth data<\/a>. As a result, Bitcoin and the broader cryptocurrency market faced a major price correction on Thursday.<\/p>\n

Amid the cooling business activity in the U.S., access to liquidity is likely to be limited going ahead. On the other hand, high inflation has continued to spark worries leading to expectations that the Fed will continue to hold the interest rates higher for longer.<\/p>\n

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Slowdown in ETF Inflows to Continue<\/h3>\n

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Earlier this week, Standard Chartered, a UK-based bank, released a report attributing the deceleration in ETF inflows to a variety of factors.<\/p>\n

Geoff Kendrick, the lead author of the report, pointed to macroeconomic factors such as \u201cincreased Treasury yields and a more complex environment for risk assets influenced by geopolitical events in the Middle East.\u201d Kendrick suggested that \u201cthe initial surge of ETF purchases may have largely concluded,\u201d indicating that the subsequent influx of funds will hinge on the incorporation of spot Bitcoin ETFs into \u201cmore extensive macro funds.\u201d<\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Spot Bitcoin ETFs in the United States recorded one of the biggest outflows so far in the month of April on Thursday. Yesterday, the total outflows across all ten spot Bitcoin ETFs stood at a staggering $217 million. The Grayscale Bitcoin ETF GBTC led the pack with $140 million in outflows. Multiple Bitcoin ETFs See […]<\/p>\n","protected":false},"author":2,"featured_media":283028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-290214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=290214"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290214\/revisions"}],"predecessor-version":[{"id":290218,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290214\/revisions\/290218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/283028"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=290214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=290214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=290214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}