Key Points
- Fidelity’s spot Bitcoin ETF experienced its first net outflow of $22.61 million since its January listing.
- Other U.S. Bitcoin funds also reported outflows, totaling $217.58 million, while Franklin Templeton’s EZBC saw inflows.
Fidelity’s spot Bitcoin exchange-traded fund (ETF) recorded its first-ever daily net outflows on Thursday, amounting to $22.61 million.
This marks the first time that the fund has seen more money moving out than in since its listing in January.
Outflows in Other Bitcoin Funds
In addition, several other Bitcoin funds in the U.S. also reported daily outflows.
These outflows amounted to a total loss of $217.58 million.
Grayscale’s converted ETF lost $139.37 million, while Ark Invest and 21Shares’ fund saw $31.34 million move out.
Valkyrie’s fund lost $20.16 million, and Bitwise recorded an outflow of $6 million.
Some Funds See Inflows
On the other hand, Franklin Templeton’s EZBC was the only fund that experienced daily net inflows, drawing in $1.87 million.
BlackRock’s IBIT fund saw no inflows or outflows on Thursday, according to data from crypto analyst HODL15Capital.
This marked the end of its 71-day streak of positive flows. However, zero flows are typical in ETFs, as noted by Bloomberg ETF Analyst James Seyffart.
Post-Bitcoin halving, fund inflows were virtually non-existent, according to Hong Song-uk, an analyst at NH Investment and Securities.
“There are no follow-up events that focus attention on Bitcoin in the near term,” Hong stated.
At the time of reporting, Bitcoin was trading at $64,410.
Over the past 24 hours, about $58.2 million worth of Bitcoin was liquidated, with $35 million of these being long positions, as per Coinglass data.