Bitcoin ETFs see $630M outflow Friday

U.S.-listed Bitcoin exchange-traded funds ended Friday, May 15, with net outflows, according to public flow trackers, as a stronger-than-expected U.S. inflation reading earlier in the week weighed on risk appetite. CoinGlass showed about $290.4 million leaving spot Bitcoin ETFs for the session, while Farside Investors' running table also showed a negative day for the group. Ether-linked ETFs also posted withdrawals, though at a smaller scale than Bitcoin funds. The moves came in a week when large asset managers also announced new tokenized cash-style products on blockchain rails. ### Why does the Friday outflow figure differ from the $630 million claim? CoinGlass, one of the most widely followed public ETF trackers in crypto markets, showed total net outflows of about $290.4 million for U.S. spot Bitcoin ETFs on May 15. The largest single-fund moves on its table were roughly $538 million out of BlackRock's IBIT, $489 million out of Fidelity's FBTC and $648 million out of ARK 21Shares' ARKB, partly offset by inflows into other products. Farside Investors also listed May 15 as a net outflow day for Bitcoin ETFs, but the search result available did not surface a $630 million aggregate figure. Because the underlying public trackers available in this review did not confirm the $630 million number, that figure could reflect an earlier estimate, a different cutoff time or a calculation that excluded offsetting inflows. ### What happened in Ether-linked funds the same day? (coinglass.com) CoinGlass showed spot Ethereum ETFs recorded net outflows on May 15 as well, though far smaller than the Bitcoin products. The tracker available in search results did not match the roughly $36 million figure in the prompt, but it did show the Ethereum group moved lower on the day. (farside.co.uk) The smaller scale of Ether ETF withdrawals left Bitcoin funds as the main source of the day's pressure in listed U.S. crypto products. Public flow dashboards are updated on different schedules, and intraday estimates can change after issuers publish final basket activity. ### What data release did traders point to this week? The U.S. Bureau of Labor Statistics said on May 13 that its producer price index for final demand rose 1.4% in April on a seasonally adjusted basis. (theblock.co) The agency said that was the largest monthly increase since March 2022, and the index rose 6.0% over the 12 months through April. Crypto market participants linked that reading to reduced expectations for near-term Federal Reserve rate cuts, a view reflected in market commentary around the ETF outflows. (coinglass.com) The BLS release itself did not address crypto markets or Fed pricing, but it provided the inflation data point traders cited when explaining weaker demand for risk assets later in the week. ### Which funds saw the biggest moves? (bls.gov) BlackRock's iShares Bitcoin Trust, traded under the ticker IBIT, showed the largest single-day dollar withdrawal on the CoinGlass table for May 15 at about $538 million. ARK 21Shares' ARKB followed at about $648 million out, and Fidelity's FBTC showed about $489 million in withdrawals. Smaller inflows into products including Grayscale's Bitcoin Mini Trust and VanEck's HODL partly offset those losses. (bls.gov) Total spot Bitcoin ETF assets remained above $107 billion on CoinGlass despite the session's outflow. The tracker listed IBIT as the largest fund in the group by assets under management, at about $66.6 billion. ### What tokenized fund launches were announced this week? J.P. Morgan Asset Management said on May 13 that it launched the JPMorgan OnChain Liquidity-Token Money Market Fund, or JLTXX, on the public Ethereum blockchain. (coinglass.com) The company described JLTXX as its second tokenized money market fund and said it was designed for U.S. investors and stablecoin issuers seeking government money market exposure. Sygnum Bank said on May 13 that its Desygnate platform was powering Fidelity International's first tokenized product, offering institutional and professional investors yield-bearing U.S. dollar liquidity with 24/7 subscriptions and redemptions. Sygnum said the product received a AAA-mf assessment from Moody's. (am.jpmorgan.com) June 11 is the next scheduled release date for the U.S. producer price index, according to the Bureau of Labor Statistics, and crypto ETF flow trackers including CoinGlass and Farside continue to update daily fund data. (bls.gov) (sygnum.com)