Hong Kong and US ETFs see modest outflows on mixed day Quick Take
US ETFs
According to the latest Farside data, US Bitcoin exchange-traded funds (ETFs) experienced outflows on May 9, totaling $11.3 million. Notably, the Grayscale Bitcoin Trust (GBTC) witnessed a $43.4 million redemption, marking its largest single-day outflow since May 2. GBTC has now recorded a total of $17.5 billion in outflows.
Six different US ETFs recorded inflows, with BlackRock’s IBIT product leading with $14.2 million. IBIT has now accumulated $15.4 billion in total inflows. Additionally, the remaining three ETFs comprising the top fourโBitwise (BITB), Fidelity (FBTC), and ARK (ARKB)โalso experienced inflows. In total, US ETFs have now witnessed $11.7 billion in cumulative net inflows, according to Farside data.
HK ETFs
According to Farside data, the Hong Kong (HK) ETF market encountered difficulties on May 9, with Bitcoin ETFs experiencing $5.5 million in outflows and Ethereum ETFs losing $1.4 million, totaling a combined outflow of $6.9 million for the day. Nevertheless, HK’s Bitcoin and Ethereum ETFs maintain total net inflows of $20.4 million and $4.3 million, respectively, bringing the total net inflow to $24.7 million.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
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BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.