1 week ago
U.S.-listed spot bitcoin BTC exchange-traded funds (ETFs) recorded their archetypal time of nett outflows successful 10 trading sessions connected Thursday, according to a probe study by JPMorgan (JPM).
The Wall Street slope estimated that spot bitcoin ETFs saw $358 cardinal of redemptions yesterday, according to a Friday report, with conscionable one, BlackRock’s iShares Bitcoin Trust (IBIT) attracting a nett inflow. IBIT gathered successful a nett $125 million, the slope observed.
In contrast, Fidelity’s FBTC saw nett outflows of $166 million, starring the redemptions, the study said. Other large contributors included the Grayscale Bitcoin Trust (GBTC) -$107 million, ARK 21Shares Bitcoin ETF (ARKB) -$89 cardinal and the Bitwise Bitcoin ETF (BITB) -$71 million, the slope said
JPMorgan said smaller outflows were besides noted crossed the remaining issuers.
The bitcoin terms slipped 1.1% connected the day, but marketplace enactment remained robust with trading volumes of $5.39 billion, good supra the 20-day mean of $2.81 billion, the study added.
The world's largest cryptocurrency was trading astir $105,656 astatine work time.
Read more: U.S. Spot Crypto ETFs Saw Strong Inflows connected Wednesday, JPMorgan Says
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