Bitcoin ETFs Log $358M in Withdrawals, Marking First Outflow Day in Two Weeks: JPMorgan
U.S.-listed spot bitcoin ETFs reversed course Thursday, registering their first daily outflow in 10 sessions, according to a JPMorgan report released Friday.
Net redemptions totaled $358 million across the category, with BlackRock’s iShares Bitcoin Trust (IBIT) being the only fund to attract inflows, pulling in $125 million. The rest of the market saw broad selling pressure.
Fidelity’s FBTC led the outflows with $166 million, followed by Grayscale’s GBTC at $107 million. ARK 21Shares (ARKB) and Bitwise’s BITB weren’t far behind, seeing $89 million and $71 million in net withdrawals, respectively.
JPMorgan analysts noted minor outflows across smaller issuers as well, reflecting a shift in sentiment after a strong run of positive flows.
Despite the pullback, bitcoin trading activity remained elevated. Daily volumes hit $5.39 billion, well above the 20-day moving average of $2.81 billion. Bitcoin traded around $105,656 at the time of the report, down 1.1% on the day.
The data points to a possible pause or recalibration by institutional investors after a sustained accumulation phase.
