Spot Bitcoin ETFs highest daily Outflows were experienced on 1st May. This change reflects a lack of enthusiasm and worsening demand in the market. Despite the overall outflow trend, some ETFs stood out.
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Bitcoin ETFs highest Daily Outflows
In April, the US spot Bitcoin Exchange-traded Fund (ETF) market experienced a significant shift, breaking a three-month streak of consecutive inflows with a total net outflow of $343.5 million. This change reflects a lack of enthusiasm and worsening demand in the market, leading to the largest daily net outflows recorded on May 1st for all nine spot Bitcoin ETFs.
Despite the overall outflow trend, some ETFs stood out. Fidelity’s FBTC experienced the largest outflow of over $191 million, while Grayscale’s GBTC, which has seen substantial outflows since the inception of spot Bitcoin ETF trading in the US, registered only $167.3 million in net outflows.
ARK 21Shares, awaiting an SEC decision on its Ethereum ETF application in May, recorded $98.1 million in daily net outflows, making it the third-largest in terms of daily outflows.
https://sosovalue.xyz/assets/us-btc-spot
Hashdex’s DEFI
On May 1st, the total net outflows for all spot Bitcoin ETFs amounted to $563.7 million. Despite this, Hashdex’s DEFI was the only spot Bitcoin ETF without daily outflows, although it also recorded $0 inflows on the same day.
Overall, the US spot BTC ETF market saw a cumulative inflow of $11.2 billion at the end of trading, indicating mixed sentiments and a complex market environment. Grayscale continued to lead in outflows in April, with approximately $2.5 billion exiting the GBTC ETF.
The market’s current outlook suggests challenges in reaching the optimistic levels predicted by JPM Securities, which speculated that spot Bitcoin ETF inflows could reach as high as $220 billion within the next three years. Despite these challenges, the future performance of spot Bitcoin ETFs remains uncertain, and only time will reveal the market’s direction.
Conclusion
To conclude, the US spot Bitcoin ETFs highest daily outflows on May 1st, indicated a lack of enthusiasm and worsening demand. Despite this, some ETFs, like Hashdex’s DEFI, stood out. The market’s future performance remains uncertain, with challenges in reaching optimistic inflow levels predicted by some analysts.
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