Financial Insights That Matter
According to the data revealed by the @lookonchain analytics account on the X social network, today, on April 7, spot Bitcoin exchange-traded funds have faces substantial outflows, losing more than $150 million.
It happened to all ten ETFs, except just one. This happened as the crypto market has faced a bloodbath with Bitcoin nosediving way below $80,000.
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$151.8 million quit Bitcoin ETFs
The aforementioned analytics data source revealed that the total netflow for Bitcoin ETFs constituted minus 1,939 BTC worth roughly $151.8 million today. The largest losses were suffered by the Bitwise ETF – 751 Bitcoins valued at almost $59 million. It still holds 37,921 BTC in total worth $2.97 billion.
BlackRock’s IBIT ETF lost 122 BTC (486 Bitcoin over the past week), while Grayscale Bitcoin Trust showed the second-biggest outflow after Bitwise – 743 BTC. Ark Invest’s and VanEck’s ETFs said goodbye to 260 BTC and 148 BTC, respectively.
However, one exchange-traded fund welcomed some inflows—the Invesco Galaxy Bitcoin ETF, which saw 86 Bitcoins enter it.
Fidelity, Valkyrie, and Franklin lost zero Bitcoins this time round.
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