Summary
- BlackRock’s Bitcoin ETF, IBIT, recorded no outflows on August 5.
- The US Bitcoin ETFs saw $168.4 outflows yesterday.
According to the latest reports coming from SoSoValue, the total net outflows for the US-based Bitcoin ETFs were $168.4 million on August 5.
Here are the inflows and outflows in the crypto products yesterday:
- Grayscale’s Bitcoin ETF, GBTC, saw $69.1 million in outflows.
- Fidelity’s Bitcoin ETF, FBTC, saw $58 million in outflows.
- Ark Invest and 21Shares’ Bitcoin ETF, ARKB, saw $69 million in outflows.
- Bitwise’s Bitcoin ETF, BITB, recorded $2.9 million in inflows.
- Grayscale’s BTC recorded $21.8 million in inflows.
- VanEck’s HODL saw $3 million in inflows.
BlackRock’s Bitcoin ETF, IBIT, and the other Bitcoin ETFs did not record any inflows or outflows on August 5.
According to the same data, IBIT had $18.2 billion in total net assets as of August 5. Also, its trading volume surpassed $1.55 billion in the first trading hour the other day.
Data from CryptoQuant also revealed that not one single BTC left BlackRock’s wallet the other day, despite the dip and market declines.
August 5 – Wave of Financial Collapses
The other day saw a huge wave of financial collapses across multiple global markets, with traders and analysts hinting at a potential Black Swan event. Stocks and crypto markets dropped with panicked investors selling.
Yesterday, Bloomberg reported that the Nasdaq 100 contracts fell more than 2.6% in the early morning of August 5. Japan’s Topix Index was down around 6% at the same time.
The Bank of Japan raised interest rates for the second time in 17 years, and the move had enormous implications for the global markets.
This, along with the escalating conflict between Iran and Israel, together with recession fears in the US have triggered a market collapse which was even addressed by former US President Donald Trump.
However, investors were advised to remain calm and buy the dip in all markets.
Regarding the crypto market, and Bitcoin’s price today, at the moment of writing this article, BTC is trading above $55,000, up by over 10% today.