Spot Bitcoin ETFs Experience Significant Outflows Amid Market Adjustments
- Spot Bitcoin ETFs saw outflows of $194.6 million on December 5, marking a two-week high.
- BlackRock’s IBIT fund, the largest Bitcoin ETF by market capitalization, accounted for $113 million of these outflows.
- The outflows follow five consecutive days of positive inflows earlier in the week.
- Analysts attribute the outflows to unwinding “basis trades” and potential interest rate hikes in Japan.
- Bitcoin prices remained stable, falling just slightly by 1.7% over the past day to $91,315.
Spot Bitcoin ETFs experienced significant outflows on December 5, driven primarily by BlackRock’s IBIT fund and attributed to investors unwinding basis trades amid macroeconomic concerns like potential rate hikes in Japan.
Despite recent positive inflows earlier in the week, these factors led to a notable shift in fund movements as Bitcoin ETFs shed $194.6 million overall. (Source)
