Outflow of £500 million challenges ETFs’ performance in May, all nine funds experience net loss, BlackRock’s IBIT sees first fund outflow.
The US Bitcoin ETF has faced net outflows for six consecutive trading days, with over $500 million in net outflows on May 1st. All nine ETFs have experienced net outflows. In addition to the fixed net outflows of GBTC, which had $167 million outflows, even the consistently net inflowing BlackRock IBIT has shown a net outflow of $37 million. Fidelity Investments’ FBTC has also had outflows of $191 million, surpassing GBTC. Overall, there have been net outflows of $564 million.
Key entry price: $57,300
According to analyst statistics, the average entry price for ETF buyers is $57,300. If the price remains below this level, it could lead to greater liquidation in the market, possibly reaching price levels of $55,000 to $52,000.
ETF
BlackRock IBIT
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