Overview

• U.S.-listed spot bitcoin ETFs recorded $358 million of net outflows on Thursday, ending a 10-day inflow streak, JPMorgan reported.
• BlackRock’s iShares Bitcoin Trust was the sole bitcoin ETF to attract a net inflow, drawing $125 million, while Fidelity’s FBTC, Grayscale’s GBTC and ARK 21Shares saw redemptions.
• Bitcoin’s price slipped 1.1% on Thursday, yet total ETF trading volumes jumped to $5.39 billion, well above the 20-day average of $2.81 billion.
• Spot ether ETFs logged $84 million in net inflows on May 28, led by BlackRock’s ETHA with $52 million and Fidelity’s FETH with $26 million, despite a 1.3% price drop.
• Over the past five weeks, bitcoin ETFs have drawn $9 billion in investor funds as allocations shift away from gold-backed funds, according to Bloomberg.