U.S.-based spot Bitcoin ETFs broke their 8-trading-day streak of net outflows on Friday, adding $94 million worth of net inflows.
The inflows were led by Ark and 21Shares' ARKB fund, which netted $194 million in inflows, and Fidelity's FBTC, which netted $176 million in inflows.
However, the funds' gains were offset by continued outflows from BlackRock's IBIT fund, which set a single-day outflow record on Wednesday. IBIT saw net negative outflows over each of the past 5 trading days, shedding $244.5 million on Friday, bringing its total outflows to the week to $1.175 billion.
Despite the outflows, IBIT still has more than double the assets under management (AUM) of Fidelity's FBTC, the second-biggest such fund, according to The Block's data.
Overall, given the outflows and the recent declines in price of Bitcoin, the spot ETFs currently hold about $95 billion in overall value — about $20 billion less than their value on February 20, according to SoSoValue data.
"While Bitcoin trades relatively well within the digital asset complex, it is now caught up in the Solana meme coin-driven selloff and now the broader risk-off nature of markets," Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick said last week.
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