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BITB, Bitwise’s BTC ETF, experiences first outflow since launch BITB, Bitwise’s BTC ETF, experiences first outflow since launch

BITB, Bitwise’s BTC ETF, experiences first outflow since launch

Farside data reveals declining trend in inflows for BlackRock's IBIT.

Quick Take

Bitcoin ETFs experienced significant outflows on April 17, with Farside data showing a $165.0 million outflow, the largest since April 8. Grayscale GBTC saw outflows of $133.1 million, bringing its total net outflows to $16.5 billion. Ark ARKB also recorded an outflow of $42.7 million, resulting in total inflows of $2.1 billion. Bitwise BITB experienced its first outflow since launch, amounting to $7.3 million, leaving its total inflows at $1.7 billion.

Bitcoin ETF Flow Table: (Source: Farside)
Bitcoin ETF Flow Table: (Source: Farside)

Farside reports that despite the widespread outflows, BlackRock IBIT has maintained consecutive inflows, albeit at a decreasing rate. The most recent inflow amounted to $18.1 million, bringing IBIT’s total inflows to $15.3 billion. However, the diminishing inflows since April 12 have raised questions about the sustainability of the inflows.

In total, Bitcoin ETFs have seen net inflows of $12.2 billion, according to Farside.