Spot bitcoin ETFs see near-record outflows of $903 million

U.S. spot bitcoin exchange-traded funds (ETFs) recorded a massive net outflow of $903.11 million on Thursday, marking their second-largest daily outflow since their inception. BlackRock's IBIT led with $355.5 million in outflows, followed by Grayscale's GBTC ($199.35 million) and Fidelity's FBTC ($190.4 million). This significant outflow coincided with a broader risk-off sentiment in equity markets, partly triggered by concerns over Nvidia's accounts receivable surge and disappointing U.S. employment data, which dampened hopes for an interest rate cut. Despite the daily drop, one analyst noted that cumulative ETF inflows remain high at $57.4 billion, suggesting institutions are trimming positions rather than abandoning the asset class. Concurrently, spot Ethereum ETFs also saw outflows ($261.6 million), though newly launched altcoin ETFs, like Bitwise's XRP fund, continued to attract inflows.

(Source：The Block)