USA-LIGHT SPOT BITCOIN
Exchange -traded funds (ETFS) recorded their first day of net outflow in 10 trade sessions on Thursday, according to a research report from JPMorgan (JPM).
Wall Street Bank estimated that Spot Bitcoin ETFS experienced $ 358 million of redemptions yesterday, according to a Friday report, with only one, Blackrocks Ishares Bitcoin Trust (Ibit) attracting a net inflow. Ibit gathered in a Net of $ 125 million, the bank observed.
In contrast, Fidelity’s FBTC FBTC experienced net outflow of $ 166 million, which led the redemptions, the report said. Other major contributors included Grayscale Bitcoin Trust (GBTC) -$ 107 million, ARK 21Shares Bitcoin ETF (ARKB) -$ 89 million and BitWise Bitcoin Etf (Bitb) -$ 71 million, the bank said the bank said
JPMorgan said that less outflows were also noted across the remaining issuers.
The Bitcoin price slipped 1.1% of the day, but market activity remained robust with trading volumes of $ 5.39 billion, well over the $ 20-day average of $ 2.81 billion, the report added.
The world’s largest cryptocurrency traded about $ 105,656 upon publication time.
Read more: US SPOT CRYPTO ETFs so strong influxes on Wednesday, says JPMorgan
