Bitcoin ETFs Log $358M in Net Outflows, Snapping 10-Day Inflow Streak: JPMorgan
U.S.-listed spot bitcoin exchange-traded funds (ETFs) experienced their first net outflow in ten sessions on Thursday, with $358 million exiting the market, according to a research note from JPMorgan released Friday.
The bank reported that BlackRock’s iShares Bitcoin Trust (IBIT) was the lone bright spot, pulling in $125 million in net inflows. All other major funds saw redemptions, led by Fidelity’s FBTC, which recorded $166 million in net outflows.
Grayscale’s GBTC shed $107 million, while the ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) saw respective net outflows of $89 million and $71 million. JPMorgan added that smaller outflows were observed across the rest of the ETF issuers.
Despite the outflows, bitcoin trading remained active, with volume reaching $5.39 billion—nearly double the 20-day average of $2.81 billion. Bitcoin’s price declined by 1.1% on the day, trading near $105,656 at the time of the report.
