Bitcoin ETFs Face First Net Outflow After Strong Inflow Streak

Bitcoin ETFs Experience First Net Outflow After Seven-Day Streak

On October 22, 2024, Bitcoin exchange-traded funds (ETFs) witnessed net outflows, interrupting seven days of inflows that had amassed over $2.6 billion since October 11. The total outflow reached $79.1 million, marking the first negative flow since October 10.

Key ETF Flows and Performance

The iShares Bitcoin Trust (IBIT) experienced inflows of $43 million on October 22, a reduction from its previous daily increases. In contrast, ARK’s Bitcoin ETF (ARKB) saw substantial outflows of $134.7 million, contributing significantly to the overall negative numbers. Meanwhile, funds like Fidelity’s FBTC and VanEck’s HODL reported minor inflows, with some others maintaining flat flows.

Analyzing Market Trends

This recent shift follows a period of consistent investor interest in Bitcoin ETFs, characterized by significant capital inflows over the past week. Analysts are closely observing these developments to determine if this outflow represents a temporary fluctuation or the start of a new trend. The performance of leading ETFs, such as IBIT, will play a crucial role in understanding future market movements.