U.S. Spot Bitcoin ETFs See Record Outflows

U.S. spot bitcoin exchange-traded funds (ETFs) experienced their largest single-day outflows ever on Thursday, totaling $680 million. This concluded a 15-day streak of positive inflows.

Key Outflows

• Fidelity’s FBTC: $208.6 million outflows
• Grayscale’s Bitcoin Mini Trust: $188.6 million outflows
• ARKB (Ark and 21Shares): $108.4 million outflows
• Grayscale’s GBTC: $87.9 million outflows
• Bitwise’s BITB: $43.6 million outflows
• VanEck and Valkyrie ETFs: additional outflows reported

Notable Inflows

BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, reported zero flows yesterday. In contrast, WisdomTree’s BTCW was the only fund among the 12 to register positive inflows, gaining $2 million.

Trading Volume and Bitcoin Price

The trading volume of the 12 spot bitcoin ETFs increased to $6.3 billion, a significant rise from $5.9 million the previous day.

On Thursday, Bitcoin fell below the $100,000 mark following a hawkish speech by Fed Chair Jerome Powell, trading down 4.2% to around $97,061. Ether suffered a 7.9% drop, priced at $3,380.

The Block’s GMCI 30 index, tracking top cryptocurrencies, declined 6.3% in the past 24 hours.

Ethereum ETF Outflows

Furthermore, U.S. spot Ethereum ETFs experienced $60.5 million in outflows on Thursday, ending an 18-day streak of inflows.