Grayscale's Bitcoin Trust (GBTC) experienced a significant outflow of $69.12 million, bringing its total net divestments since Jan. 11, 2024, to $19.13 billion.
Three leading bitcoin exchange-traded funds (ETFs) experienced major outflows on Monday, as reported by tracking resources.
While Grayscale’s Mini Bitcoin Trust (BTC) and two other funds managed to secure gains, the outflows from three funds were substantial. Grayscale’s Bitcoin Trust (GBTC) led the outflows with $69.12 million, followed by Ark Invest’s and 21shares’ ARKB, which experienced an outflow of $69 million. Fidelity’s FBTC also faced a significant outflow, amounting to $58.04 million, as reported by sosovalue.xyz and coinglass.com metrics.
Three Other Funds Secure Gains
On the other hand, three other funds managed to secure gains. Grayscale’s Mini Bitcoin Trust, also known as “BTC,” experienced an inflow of $21.81 million. Vaneck’s HODL and Bitwise’s BITB also experienced inflows, amounting to $3 million and $2.9 million, respectively.
Meanwhile, Blackrock’s IBIT, along with BRRR, BTCO, EZBC, BTCW, and DEFI, remained steady with no changes. Collectively, these 12 funds have attracted $17.34 billion in cumulative net inflows since they started trading in January.
The recently launched BTC or Mini Bitcoin Trust has quickly accumulated $240.81 million in positive inflows since it began trading. IBIT leads the pack in cumulative inflows, having gathered $20.10 billion to date. On the other end of the spectrum, the Hashdex DEFI spot BTC ETF has recorded the smallest inflows, totaling $2.1 million to date.
Monday’s trading was marked by significant activity, with a recorded volume of $5.24 billion. As of Aug. 6, 2024, these 12 spot BTC ETFs hold a combined $48.43 billion in BTC reserves, accounting for approximately 4.51% of bitcoin’s total market capitalization.
What do you think about the spot bitcoin ETF action on Monday? Share your thoughts and opinions about this subject in the comments section below.
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