Bitcoin Spot ETFs See $85.63 Million Net Outflow, BlackRock IBIT Records Inflow

In Brief:

Bitcoin spot ETFs experienced a significant net outflow of $85.63 million on May 6, with BlackRock’s IBIT ETF seeing a net inflow of $36.73 million.

Grayscale’s GBTC faced the largest outflow of $89.92 million for the day.

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On May 6, Bitcoin spot ETFs experienced a sharp net outflow of $85.63 million, according to data from SoSoValue. This marks a noteworthy shift in the market, as BlackRock’s IBIT ETF stood out by recording a net inflow of $36.73 million, bringing its total historical inflows to $44.25 billion.

In contrast, Grayscale's GBTC suffered a significant outflow, losing $89.92 million in a single day, which now brings its cumulative historical outflows to $22.85 billion. The total assets under management in Bitcoin spot ETFs currently sit at $111.15 billion, which represents 5.91% of Bitcoin's total market value.

Despite the overall outflows, BlackRock’s IBIT ETF remains resilient, attracting substantial inflows during a time when other funds, such as GBTC, are facing challenges. The contrasting performances highlight the varying investor sentiment and the ongoing volatility in the Bitcoin investment landscape.

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