Bitcoin ETFs Break 8-Day Outflow Streak, But BlackRock’s IBIT Struggles!
After eight consecutive trading days of outflows, U.S. spot Bitcoin ETFs finally recorded a net positive inflow of $94 million on Friday, marking a potential shift in investor sentiment. However, BlackRock’s IBIT fund remains under pressure, setting a single-day outflow record last Wednesday.
Bitcoin ETFs Recover, But Losses Still Weigh Heavy
📉 Over the past 8 days, Bitcoin ETFs lost $20 billion in value, driven by outflows and BTC price declines.
📈 Friday saw $94 million in net inflows, led by:
- Ark & 21Shares’ ARKB: $194 million inflows
- Fidelity’s FBTC: $176 million inflows
BlackRock’s IBIT Faces Ongoing Outflows
💰 IBIT saw $244.5 million in outflows on Friday, bringing its weekly outflows to $1.175 billion.
💰 Despite this, IBIT still holds over twice the assets under management (AUM) of Fidelity’s FBTC, reinforcing its dominant market position.
ETF Market Still Down $20 Billion
📊 Bitcoin ETFs now hold a combined $95 billion in assets, down $20 billion from February 20, reflecting broader market weakness.
What’s Behind the Volatility?
🔸 Bitcoin’s recent struggles are linked to a Solana-driven memecoin selloff and a broader risk-off sentiment in traditional markets, according to Geoffrey Kendrick of Standard Chartered.
While Bitcoin ETFs have stabilized, the sustainability of this rebound remains uncertain, especially with BlackRock’s continued losses weighing on the market.
