Massive Outflows Hit U.S. Bitcoin ETFs
A significant downturn was experienced by U.S. spot bitcoin exchange-traded funds (ETFs) on Thursday, as a total of $226.21 million flowed out during the trading sessions. Among the ETFs, Fidelity’s FBTC took the hardest hit, with $106 million exiting the fund.
On Wednesday, the 11 spot bitcoin ETFs collectively attracted $100.8 million. However, the following day saw a sharp reversal, with net losses amounting to $226.21 million in outflows. Trading volume reached $1.77 billion, and despite the outflows, the group’s overall net inflows remained at $15.30 billion. The only exception was Blackrock’s IBIT, which managed to receive inflows of around $18 million.
Fidelity’s FBTC led the outflows with $106 million leaving the fund. Following closely behind was Grayscale’s Bitcoin Trust (GBTC), which saw $62 million flowing out, as reported by sosovalue.xyz’s ETF dashboard. Ark Invest’s and 21shares’ ARKB fund experienced $53 million exiting, while Bitwise’s BITB lost $10 million. Invesco and Galaxy ETF BTCO saw $3 million departing, and Vaneck’s HODL divested $11 million during the trading day.
The remaining spot bitcoin ETFs had a neutral day, with no significant inflows or outflows. With Blackrock’s BTC fund holding 305,568.82 BTC following the $18 million inflow, and Grayscale’s fund holding 282,147.69 BTC after the $62 million outflow. Fidelity’s FBTC, nearing the 200,000 BTC milestone, held 172,753.41 BTC and $709 in cash after Thursday’s trading.
What are your thoughts on the U.S. spot bitcoin ETF activity on Thursday? Feel free to share your opinions in the comments below.
