Fidelity Bitcoin ETF Records First Daily Net Outflows Since January Listing
The Fidelity Wise Origin Bitcoin (FBTC) ETF, a key player in the spot Bitcoin exchange-traded fund (ETF) market, experienced a significant setback on Thursday, with a first day of net outflows since launch. It recorded a noteworthy outflow of nearly $23 million, marking a significant event in the cryptocurrency market.
This outflow trend, the first of its kind since its introduction in January, had a ripple effect beyond Fidelity Bitcoin ETF. It impacted other prominent funds in the cryptocurrency market, painting a broader picture of the market’s current state.
On the same day, notable names in the cryptocurrency market, such as ARK 21Shares’ ARKB, Valkyrie’s BRRR, and Bitwise’s BITB, recorded outflows of $31.3 million, $20.2 million, and $6 million, respectively.
According to SoSoValue data, the Fidelity Bitcoin ETF outflow on Thursday amounted to $22.61 million. This departure from its typical performance showed a shifting sentiment among investors in the Bitcoin market.
Franklin Templeton’s EZBC emerged as a top performer among the affected funds, attracting a net inflow of $1.87 million. However, Grayscale’s GBTC counterbalanced this positive momentum, experiencing a substantial drainage of $139 million.
Daily Flows: @Grayscale ‘s $GBTC and @BlackRock ‘s $IBIT pic.twitter.com/Uik7HRSuUH
— HODL15Capital
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