Thursday witnessed the largest outflow from ARKB since its launch in January. In the past 13 days, U.S. BTC ETFs recorded net inflows of over $2 billion. U.S. spot bitcoin exchange-traded funds have now experienced 13 consecutive days of net inflows, with a total of $48.71 million. Yesterday, there were significant movements in two bitcoin funds, one from Fidelity and the other from Ark Invest and 21Shares.
According to SoSoValue data, FBTC (Fidelity) led with net inflows of $119 million, while ARKB (Ark) saw net withdrawals of nearly $100 million. The biggest outflow from ARKB since its launch in January occurred on Thursday.
The uncertainty surrounding the future interest rates set by the Federal Reserve seems to be driving the unusual movements in spot bitcoin ETFs. This is particularly noticeable in the lead-up to the release of key US economic data on May 31.
Over the past thirteen days, net inflows of more than $2 billion were recorded by U.S. spot bitcoin ETFs. This current positive trend is the second longest since the funds were listed, following a 17-day period of net inflows that began in January. The Block’s data dashboard shows a significant decrease in flows in U.S. spot bitcoin ETFs compared to the high volume observed in March.
On Thursday, just one day after BlackRock submitted its updated S-1 registration statement, Grayscale did the same for its spot Ethereum fund. Issuers are being reminded by the SEC to file their S-1 forms by Friday, and as a result, a surge in submissions is expected.
Highlighted Crypto News Today:
Senator McHenry Presses Senate to Approve FIT21 Bill Ahead of Election
