Bitcoin ETFs shed $1.2B in red week, but Schwab remains bullish
Bitcoin ETFs lost $1.22 billion this week as BTC fell, but Schwab reported its clients now own 20% of all US crypto ETPs.
Spot Bitcoin exchange-traded funds in the United States have seen more than $1.2 billion in outflows this week, but Charles Schwab is seeing more interest in the products.
The eleven spot Bitcoin ETFs in the US saw an aggregate outflow of $366.6 million on Friday, which rounded off a red week for the asset and Bitcoin-associated institutional investment products.
BlackRock’s iShares Bitcoin Trust saw the largest outflow as the product lost $268.6 million, according to SoSoValue. Fidelity’s fund shed $67.2 million, Grayscale’s GBTC outflowed $25 million, and there was a minor outflow from the Valkyrie ETF. The rest saw zero flows on Friday.