Blackrock’s IBIT, the largest Bitcoin ETF fund by inflow shed $188 million yesterday contributing to the $1.5 billion drain of the 11 spot Bitcoin ETFs in the last four days.
It was yet another net deficit day for the Bitcoin ETFs taking the tally to four days in a row. The 11 Spot Bitcoin ETFs lost $338.4 million yesterday with only one of the ETF funds recording an inflow.
Farside Investors UK revealed that Blackrock’s IBIT led the outflow for the day with $188 million exiting the fund.
Fidelity’s FBTC and Investco BTCO recorded outflows of $83.2 million and $75.0 million respectively.
Bitwise BITB recorded the only inflow for the day pulling in $8.5 million while the remaining funds recorded no transactions
Yesterday’s trading took the Cumulative Total net inflow of the 11 spot Bitcoin ETFs to $35.49 billion with a total traded volume of $2.16 billion per data from Sosovalue.
US Bitcoin ETFs still larger than Gold ETFs
US Bitcoin ETFs despite the blood bath are still larger than Gold ETFs crossing a significant milestone in early December.
On Dec. 16, the US Bitcoin funds surpassed $129 billion in assets under management (AUM), surpassing US gold ETFs by a slight margin, according to K33 Research’s head of research, Vetle Lund.
This AUM figure includes spot BTC ETFs as well as ETFs that track Bitcoin’s performance using financial derivatives.
Bitcoin at the time of the report is exchanging hands for $98.709 surging by 1.9% in the last 24 hours.
The primary crypto asset hit an all-time high last week before cooling off following fresh data from the Federal Open Market Committee.
