US spot bitcoin ETF outflows continue with $51.5 million more exiting

Funds • April 30, 2024, 1:22AM EDT
Published 1 minute earlier on
The Block

Quick Take

  • Spot bitcoin exchange-traded funds in the U.S. witnessed more than $51.5 million in net outflows on April 29.
  • BlackRock’s iShares Bitcoin Trust had net inflows of $0.
  • HKEX listed six spot bitcoin and ether ETFs today.

Spot bitcoin exchange-traded funds in the United States saw more than $51.5 million in net outflows yesterday.

Notably, the Grayscale Bitcoin BTC +2.73% Trust was not the biggest culprit. The ARK 21Shares Bitcoin ETF saw $31.34 million leave the product on April 29, while GBTC experienced $24.66 million in net outflows, per data from SoSoValue. The Fidelity Wise Origin Bitcoin Fund also saw a net outflow of $6.85 million.

Some U.S. spot bitcoin ETFs saw net inflows. The Bitwise Bitcoin ETF gained the most with a net inflow of $6.84 million, while the Valkyrie Bitcoin Fund and Franklin Bitcoin ETF garnered $2.67 million and $1.82 million, respectively.

The other spot bitcoin ETFs, including BlackRock's iShares Bitcoin Trust, had net inflows of $0.

Since garnering regulatory approval and listing, spot bitcoin ETFs in the U.S. have garnered a cumulative total net inflow of nearly $12 billion.

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Volumes, however, have been steadily declining since peaking on March 5.

Hong Kong Stock Exchange lists 6 spot bitcoin and ether ETFs

While U.S.-listed spot bitcoin ETFs have been the industry's focal point in recent months, attention turned today to the six spot bitcoin and ether ETFs that debuted on the Hong Kong Stock Exchange.

Hong Kong Exchanges and Clearing Ltd., or HKEX, listed the Bosera HashKey Bitcoin ETF (3008.HK), Bosera HashKey Ether ETF (3009.HK), ChinaAMC Bitcoin ETF (3042.HK), ChinaAMC Ether ETF (3046.HK), Harvest Bitcoin Spot ETF (3439.HK) and Harvest Ether Spot ETF (3179.HK) earlier today.


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About Author

Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].

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