More details of the last week performance shows the Bitcoin Spot ETFs market recorded a starggering $648.64 million in net outflows on Monday, representing it’s largest daily net withdrawal since January 29. Meanwhile, the following days recorded lesser but significantly negative performance such as $331.05 million on Tuesday, $70.47 million on Wednesday, $100.82 million on Thursday, and $105.19 million on Friday.
Taken together, the Bitcoin Spot ETFs translates to six consecutive trading days of net outflows while 80% of the last 10 days are also red days. Looking at individual fund performances, BlackRock IBIT investors withdrew $1.01 billion more than deposited, as its cumulative inflows reached $64.77 billion. The dominant market leader now maintains total net assets of $61.09 billion, i.e 6x its closest competitor.
Meanwhile, Fidelity’s FBTC and Ark/21 Shares’ ARKB also experienced significant net outflows at $111.5 million and $106.81 million, respectively. ETFs including Bitwise’s BITB, VanEck’s HODL, Valkyrie’s BRRR, Invesco’s BTCO, and Franklin Templeton’s EZBC all registered capital outlows ranging between $3m – $10m. Notably, Morgan Stanley’s MSBT, the market’s new comer recorded the only positive performance with net inflows valued at $1.11. Other funds such as Grayscale GBTC & BTC, Hashdex’s DEFI, and Bitwise’s BTCW all registered zero net activity.
Following this performance record, the Bitcoin Spot ETFs have now recorded a combined $1.00 billion net outflows in May. Meanwhile, their total cumulative net inflows stands at $57.08 billion, with their total net assets valued at $98.87 billion.
Ethereum ETF Negative Streak Extends To 10 DaysAt press time, Bitcoin continues to trade at $76,735 reflecting a daily 1.75% gain. Meanwhile, Ethereum is valued at $2,119 after a 2.78% increase within the same period.
