• On Thursday, U.S. bitcoin ETFs saw outflows of over $226 millions. This is the third consecutive day that outflows have occurred.
  • This pattern is similar to the outflows at the end April.

BTC Price Index and Live Chart – CoinDesk”>(BTC) exchange-traded funds (ETFs) posted over $226 million in net outflows on Thursday for a third day of outflows this week and reminiscent of the stream of withdrawals that occurred at the end of April.

SoSoValue’s preliminary data shows that Fidelity FBTC had the largest outflow with $106 millions. Grayscale’s GBTC saw $62 million of outflows and Ark Invest ARKB saw $53 millions.

Bitcoin ETFs saw net outflows Thursday. (SoSoValue)

BlackRock IBIT was the only ETF to record a net gain of $18 million. Valkyrie’s, Franklin Templeton’s, Hashdex’s and WisdomTree’s ETFs showed no activity in terms of either an increase or decrease.

The only day of the week to see a net increase in these U.S. listed products was Wednesday, when they added $100 million. This activity comes during a volatile week in the crypto market and bitcoin, which was centered around Wednesday’s important U.S. Inflation Report and Federal Reserve Meeting.

In three days, the withdrawals have brought the net amount of exchange-traded fund to $564 millions. This is about half of the $1.2 billion that was taken out in six days towards the end of April.

U.S. inflation was lower than expected, temporarily boosting bitcoin to $70,000 before falling back below $67,000. This is likely because traders took profits.

Sheldon Reback is the editor.