Bitcoin ETFs have first joint outflow in 2 weeks, but BlackRock bucks trend
US spot Bitcoin exchange-traded funds (ETFs) experienced a net outflow of $347 million on May 29, marking the first joint outflow day in over two weeks. This ended a 10-day inflow streak. The outflows coincided with Bitcoin's price drop of over 3.5%, falling below $105,000. The Fidelity Wise Origin Bitcoin Fund recorded the largest outflow of $166 million, followed by the Grayscale Bitcoin Trust with $107.5 million. Other ETFs from Bitwise, Ark 21Shares, Invesco, Franklin Templeton, and VanEck also saw outflows, while BlackRock’s iShares Bitcoin Trust was the only fund to record a net inflow of $125 million, extending its inflow streak to 34 days. Over the past two weeks, BlackRock’s ETF has attracted nearly $4 billion in inflows. In contrast, spot Ether ETFs saw a net inflow of $92 million on the same day, continuing a 10-day inflow streak, primarily driven by BlackRock’s iShares Ethereum Trust.
