Insights

According to the data revealed by the @lookonchain analytics account on the X social network, today, on April 7, spot Bitcoin exchange-traded funds have faces substantial outflows, losing more than $150 million. It happened to all ten ETFs, except just one . This happened as the crypto market has faced a bloodbath with Bitcoin nosediving way below $80,000. The aforementioned analytics data source revealed that the total netflow for Bitcoin ETFs constituted minus 1,939 BTC worth roughly $151.8 million today. The largest losses were suffered by the Bitwise ETF – 751 Bitcoins valued at almost $59 million. It still holds 37,921 BTC in total worth $2.97 billion.

BlackRock’s IBIT ETF lost 122 BTC (486 Bitcoin over the past week), while Grayscale Bitcoin Trust showed the second-biggest outflow after Bitwise – 743 BTC. Ark Invest’s and VanEck’s ETFs said goodbye to 260 BTC and 148 BTC, respectively. However, one exchange-traded fund welcomed some inflows—the Invesco Galaxy Bitcoin ETF, which saw 86 Bitcoins enter it. Fidelity, Valkyrie, and Franklin lost zero Bitcoins this time round. $BTC $ETH