In brief – U.S. spot Bitcoin ETFs recorded $430.2 million in net outflows Thursday, led by Fidelity’s FBTC and BlackRock’s IBIT. – BlackRock’s fund has now logged five straight trading sessions of redemptions totaling more than $1 billion. – The withdrawals coincided with a 5.5%…
sdaq slide. U.S. spot Bitcoin exchange-traded funds lost $430.2 million to net withdrawals Thursday as a technology-stock selloff spread to crypto, with Fidelity and BlackRock leading the exits
Fidelity’s Wise Origin Bitcoin Fund (FBTC) posted $199.9 million in net outflows and BlackRock’s iShares Bitcoin Trust (IBIT) shed $105 million, according to Farside Investors. Together they accounted for about 71% of the day’s withdrawals. Grayscale’s GBTC lost another $49.9 million, while Franklin Templeton’s EZBC shed $32.9 million.
No fund in Farside’s table recorded positive net flows Thursday, although several reported no net movement. The latest withdrawals brought this week’s net outflow to $869.8 million, following a $643.2 million outflow last Friday. Wednesday’s modest $74.6 million inflow offered a brief reprieve before Thursday’s reversal.