GBTC’s Heavy Withdrawals Result in Net $11.3M Outflow in US Bitcoin ETFs

On Thursday, GBTC experienced outflows that overshadowed the inflows from several spot bitcoin ETFs. Grayscale’s fund noted approximately $43 million in net outflows during the day’s trading activity. Two days prior, GBTC’s reserves stood at roughly 292,267.99 BTC; however, records from May 9 now indicate a reduced total of 291,790.19 BTC, valued at $18.22 billion.

Among the U.S. spot bitcoin ETFs, the collective recorded a trade volume of $1.34 billion. Despite Thursday’s outflows, the $11.5 million in inflows from the previous day, Wednesday, pretty much balanced them out. On May 9, Blackrock’s IBIT led significantly, attracting approximately $14 million in positive flows. While a few others reported modest increases, Bitwise’s BITB followed IBIT, securing about $6.9 million in inflows during the day’s trading sessions.

IBIT remains second only to GBTC in BTC reserves, with 274,550.15 BTC as indicated by the website’s records. The assets under management for IBIT, in terms of BTC reserves, amount to approximately $17.1 billion. Fidelity’s FBTC holds about 152,924.59 BTC, valued at roughly $9.53 billion. Following IBIT and FBTC in BTC reserve size are Ark Invest’s ARKB with 43,541 BTC and Bitwise’s BITB, which has 33,786.68 BTC.

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