11 US spot Bitcoin exchange-traded funds (ETFs) experienced significant net outflows of $226.21 million on Thursday. This marks one of the biggest breakouts in recent times for emerging crypto investment products.
US Spot Bitcoin ETFs See $226 Million Net Outflow Led by Fidelity's FBTC
Fidelity's FBTC had its second-largest net outflow day since its founding, with $106 million leaving the fund, according to SoSoValue data.
While Grayscale's GBTC also experienced significant outflows with a total of $62 million, $53 million was withdrawn from Ark Invest and 21Shares' ARKB.
Bitwise and VanEck each reported net outflows of approximately $10 million. Additionally, Invesco and Galaxy Digital's BTCO saw net outflows of $3 million.
In contrast, BlackRock's IBIT, the largest spot Bitcoin fund by net asset value, was the only fund to report a net inflow, pulling in $18 million on Thursday.
Since their listing in January, 11 spot Bitcoin ETFs in the US have received a total of $15.30 billion in net inflows. Despite significant outflows, the funds have generally received significant investor interest since their inception.
Bitcoin price was affected by these movements and dropped by 1.48% in the last 24 hours to $66,250.
*This is not investment advice.