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Post: Spot Bitcoin ETF Outflows: $742 Million in 3 Days

Spot Bitcoin ETF Outflows: $742 Million in 3 Days

Key Points

  • United States-listed spot Bitcoin ETFs have experienced $742 million in net outflows over three trading days.
  • On March 20, $261.5 million exited the ten approved funds, adding to the net outflows.
  • Grayscale Bitcoin Trust (GBTC) led the outflow with $386.6 million leaving the fund.
  • Invesco Galaxy Bitcoin ETF (BTCO) also experienced $10.2 million in outflows.

United States-listed Spot Bitcoin ETF Outflows

Spot Bitcoin ETFs in the United States have witnessed significant net outflows totaling $742 million over just three trading days. On March 20, $261.5 million exited the ten approved funds, contributing to this trend. The primary contributor to this outflow was the Grayscale Bitcoin Trust (GBTC), which saw $386.6 million leaving the fund. Additionally, the Invesco Galaxy Bitcoin ETF (BTCO) experienced $10.2 million in outflows, surpassing the inflows of the other approved ETFs.

Grayscale Bitcoin Trust Outflow

The substantial outflow seen in the spot Bitcoin ETFs was primarily driven by the massive $386.6 million exiting the Grayscale Bitcoin Trust (GBTC). This significant movement of funds indicates a shift in investor sentiment or strategy, impacting the overall net outflows in the market.

Invesco Galaxy Bitcoin ETF Outflow

Alongside Grayscale Bitcoin Trust, the Invesco Galaxy Bitcoin ETF (BTCO) also contributed to the net outflows with $10.2 million leaving the fund on March 20. While this amount may seem smaller in comparison, it still reflects investor behavior and sentiment regarding Bitcoin ETFs.

Hot Take

The consecutive net outflows in spot Bitcoin ETFs in the United States highlight a period of significant movement of funds, potentially indicating changing sentiments or investment strategies among investors. The substantial outflows from major funds like GBTC show a shift in market dynamics that may impact Bitcoin’s price and the broader cryptocurrency market.

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