The Spot Bitcoin ETFs have seen their demand drop since the start of this month, and this was again evident in the considerable outflows recorded on April 26. This poor run has had far-reaching effects on the broader crypto market as Bitcoin’s price has succumbed to unfavorable market conditions. Spot Bitcoin ETFS Record $217 Million Of Outflows Farside Investors revealed in an X (formerly Twitter) post that the Spot Bitcoin ETFs recorded $217 million of net outflows on April 25, one of their largest this month. Grayscale’s Bitcoin Trust (GBTC) accounted for most of these outflows, with investors moving $139.4 million out of the fund. Related Reading: Why Is The Dogecoin Price Down Today? Some other funds also recorded individual outflows. Ark Invest’s Spot Bitcoin ETF recorded $31.3 million in outflows, while Valkyrie and Bitwise’s ETFs saw $20 million and $6 million in daily outflows, respectively. Notably, Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded a net daily outflow for the first time since these funds were approved, with $22.6 being moved out of the fund on Thursday. Meanwhile, BlackRock’s dry spell con ..
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