U.S. spot bitcoin exchange-traded funds (ETFs) experienced a decline on Thursday, with $226.21 million in outflows recorded during the trading sessions. Fidelity’s FBTC saw the largest outflows, with $106 million exiting the fund.
US Bitcoin ETFs Record $226M in Outflows, Fidelity Led the Pack With $106M Exiting
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Massive Outflows Strike U.S. Bitcoin ETFs
On Wednesday, the 11 spot bitcoin ETFs attracted $100.8 million, but on Thursday, they faced net losses totaling $226.21 million in outflows. About $1.77 billion was traded throughout the day, and after the $226.21 million outflow, the group’s cumulative total net inflows stood at $15.30 billion. Blackrock’s IBIT was the only fund to receive inflows, pulling in around $18 million.
Fidelity’s FBTC witnessed the largest outflow, with $106 million departing. Following FBTC, Grayscale’s Bitcoin Trust (GBTC) saw $62 million in outflows, according to sosovalue.xyz’s ETF dashboard. Ark Invest’s and 21shares’ ARKB fund had $53 million leave while Bitwise’s BITB shed $10 million, Invesco and Galaxy ETF BTCO lost $3 million, and Vaneck’s HODL divested $11 million during the day’s trading sessions.
The rest of the spot bitcoin ETF group had a neutral day with neither inflows nor outflows. After IBIT’s $18 million absorption, Blackrock’s BTC fund now holds 305,568.82 BTC. With $62 million leaving GBTC, Grayscale’s fund now commands 282,147.69 BTC. Fidelity’s FBTC, approaching the 200,000 BTC mark, faced a setback on Thursday, holding 172,753.41 BTC and $709 in cash.
What do you think about the U.S. spot bitcoin action on Thursday? Share your thoughts and opinions about this subject in the comments section below.
