U.S. Spot Bitcoin exchange-traded funds recorded total net outflows of $563.7 million on Wednesday, according to SosoValue data. This is the largest daily net outflow since its debut.
Fidelity's FBTC experienced the largest net outflow of any ETF, with more than $191 million leaving the fund. This exceeded the $167.3 million net outflow recorded by Grayscale's GBTC, SosoValue. data Indicated.
Ark Invest's ARKB recorded net outflows of $98.1 million for the day, making it the third-largest net outflow of the day, followed by BlackRock IBIT's $36.9 million and Bitwise BITB's $29 million. . This is the first time BlackRock's Spot Bitcoin ETF has recorded net outflows in a single day.
All U.S. spot Bitcoin ETFs recorded net inflows on the day except for HashDex DEFI, which had zero net inflows on the day.
As of Wednesday, the 11 ETFs had cumulative net inflows of $11.2 billion.
“This means that the iShares Bitcoin ETF recorded outflows ($37 million) from day one,” said Nate Geraci, president of investment advisor The ETF Store. I have written In his post about X he says: “This is what ETFs do. Inflows don't increase linearly.”
The Spot Bitcoin ETF hype appears to have died down, with monthly net outflows declining in April. Reaching $343.5 million, ending three consecutive months of inflows. GBTC led the way in outflows in April, with $2.5 billion leaving ETFs during the month.
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