Bitcoin ETFs See $226M Outflows Led by Fidelity’s FBTC

U.S.-listed Bitcoin ETFs experienced a total outflow of over $226 million on Thursday, marking the third day of outflows this week.

This trend reflects the outflow that occurred at the end of April.

U.S.-listed bitcoin {{BTC}} exchange-traded funds (ETFs) reported net outflows of over $226 million on Thursday for the third day of this week, reminiscent of the influx of withdrawals that occurred at the end of April.

According to preliminary data from SoSoValue, Fidelity’s FBTC recorded the highest outflow with $106 million withdrawn. Grayscale’s GBTC saw an outflow of $62 million and Ark Invest’s ARKB saw an outflow of $53 million.

Bitcoin ETFs recorded net outflows on Thursday. (SoSoValue)

BlackRock’s IBIT alone recorded net inflows of $18 million. ETFs offered by Valkyrie, Franklin Templeton, Hashdex, and WisdomTree did not show any entry or exit activity.

Wednesday was the only day this week to record net inflows into these US-listed products, adding $100 million for the day. The activity comes amid a generally volatile week for Bitcoin and the broader crypto market, focused on Wednesday’s key U.S. inflation report and Federal Reserve meeting.

The withdrawals brought the net amount withdrawn from exchange-traded funds to $564 million in three days. That’s about half of the $1.2 billion received in six days at the end of April.

US inflation came in lower than expected, briefly pushing bitcoin prices from $68,000 to $70,000 before falling below $67,000 as traders likely took profits on the move.