Key Takeaways
- Spot Bitcoin ETFs in the U.S. have seen $742 million in net outflows over three days.
- Grayscale Bitcoin Trust and Invesco Galaxy Bitcoin ETF experienced significant outflows.
- iShares Bitcoin Trust and Wise Origin Bitcoin Fund had near-record low inflows.
US-listed spot Bitcoin ETFs marked their third straight day of net outflows on March 20, with $261.5 million leaving the 10 approved funds. This brings the total net outflows to $742 million over three days.
Major outflows from GBTC and BTCO
The outflows were primarily due to the Grayscale Bitcoin Trust (GBTC), which saw $386.6 million exit, and the Invesco Galaxy Bitcoin ETF (BTCO), with $10.2 million leaving the fund.
These outflows overshadowed the smaller inflows into the other eight approved ETFs.
Record low inflows for IBIT and FBTC
BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) experienced their second-lowest-ever net inflow days, with $49.3 million and $12.9 million, respectively.
The ETFs’ second-highest net outflow day was recorded on March 19, with $326.2 million exiting the funds.
