Bellede IBIT experiences net fund outflows for two consecutive weeks for the first time

The spot Bitcoin ETFs in the United States generally rebounded over the past week along with the bounce in Bitcoin prices. According to SoSoValue data, these 12 funds recorded a net inflow of $245 million per week, which is so far the third smallest total, but an improvement from last week's net outflow of $388 million. However, calculated by net asset value, BlackRock's IBIT, the largest fund of this kind, saw a weekly net outflow for two consecutive weeks despite both trading weeks being only four days due to holidays. This is the first time that such a continuous decline has occurred for the largest spot Bitcoin ETF on the market; its net asset value (NAV) of $54.3 billion still far exceeds its biggest competitors Fidelity's FBTC and Grayscale's GBTC whose NAVs are both around $20 billion.