BITB, Bitwise’s BTC ETF, experiences first outflow since launch

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Quick Take

Bitcoin ETFs experienced significant outflows on April 17, with Farside data showing a $165.0 million outflow, the largest since April 8. Grayscale GBTC saw outflows of $133.1 million, bringing its total net outflows to $16,594.7 billion. Ark ARKB also recorded an outflow of $42.7 million, resulting in total inflows of $2,194.5 billion. Bitwise BITB experienced its first outflow since launch, amounting to $7.3 million, leaving its total inflows at $1,735.7 billion.

Bitcoin ETF Flow Table: (Source: Farside)

Farside reports that despite the widespread outflows, BlackRock IBIT has maintained consecutive inflows, albeit at a decreasing rate. The most recent inflow amounted to $18.1 million, bringing IBIT’s total inflows to $15,372.9 billion. However, the diminishing inflows since April 12 have raised questions about the sustainability of the inflows.

In total, Bitcoin ETFs have seen net inflows of $12,271.0 billion, according to Farside.

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