U.S. Bitcoin Spot ETFs See Record Flows of $287M Excluding BlackRock

US spot Bitcoin ETFs witnessed a significant outflow of funds, with $287.8 million withdrawn from listed ETFs yesterday, marking the largest single-day outflow since May 1, Farside Investors data shows . According to Arkham data, the only ETF that did not experience withdrawals was BlackRock, which reported zero exits.

Eight ETFs sold $287 million of BTC in the last 24 hours.

Except for BlackRock.

BlackRock sold 0. pic.twitter.com/rWNw7FraUH

— Arkham (@ArkhamIntel) September 4, 2024

The Fidelity ETF led the retreats, selling $162 million worth of Bitcoin. Grayscale followed with $50 million in exits, while Ark and Bitwise reported $34 million and $25 million respectively. Despite these substantial exits, these ETFs still manage around $50 billion in assets.

Bitcoin saw a remarkable price increase earlier this year due to the hype and interest surrounding these ETFs, starting 2024 at around $44,000 and reaching an all-time high of $73,770 on March 14. However, the price has stagnated since then, sitting below its peak. between $55,000 and $65,000. It’s been 174 days since Bitcoin hit an all-time high, according to the Clark Moody Dashboard.

Despite the recent exits, spot Bitcoin ETFs have generally maintained strong inflows, with only one month of outflows in the last eight months. This indicates continued investor interest in Bitcoin, even as its price stabilizes below its all-time high.

Monthly US Bitcoin ETFs $BTC purchases 👇 August with +975 pic.twitter.com/qkzQ2VIQFP

— HODL15Capital 🇺🇸 (@HODL15Capital) September 2, 2024