The SEC’s approval of ETH ETFs has generated significant interest, while Bitcoin ETFs are facing challenges. SpotOnChain, a popular on-chain analytics company, has revealed that the top Bitcoin ETFs from Grayscale and BlackRock are experiencing frequent outflows. Taking to their official X account, SpotOnChain shared the latest statistics on these exchange-traded funds.
According to SpotOnChain, there was a net inflow of $28 million for Bitcoin ETFs on May 29, 2024. This positive development occurred after two days of low volume. The analytics provider also noted that Grayscale’s GBTC ETF experienced outflows for two consecutive days, while the single-day inflow of BlackRock’s IBIT ETF dropped from $102.5 million.
SpotOnChain highlighted the decline in volume for both GBTC and BlackRock’s Bitcoin ETFs over the past couple of days. Despite this, the analytics platform emphasized the overall positive net inflows of BTC ETFs, which have shown an optimistic trend for the past twelve days.
Focusing on Grayscale’s Bitcoin ETF, SpotOnChain revealed significant outflows that have affected the GBTC ETF for the past two days. Similarly, BlackRock’s ETF also experienced a drop in inflows. SpotOnChain reported that IBIT’s single-day inflow decreased to around $24.6 million, while BlackRock’s ETF saw a single-day inflow of almost $102.5 million. On May 28th, GBTC experienced outflows worth nearly $105 million, while IBIT saw inflows of $102.5 million.
Tags: BTC, ETF, ETH
