On Thursday, US spot bitcoin ETFs experienced their largest single-day outflow, with $680 million exiting the products, breaking a 15-day streak of positive inflows.
Fidelity’s FBTC led the withdrawals with $208.6 million in outflows, as reported by SoSoValue. Grayscale’s Bitcoin Mini Trust experienced $188.6 million in outflows, while 21Shares’ Ark and ARKB recorded $108.4 million in outflows.
Grayscale’s GBTC saw a reduction of $87.9 million. Bitwise’s BITB had $43.6 million withdrawn. ETFs from VanEck and Valkyrie also faced outflows.
BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, reported no flows on Thursday. WisdomTree’s BTCW was the sole fund among the 12 ETFs to report positive flows, with a $2 million inflow.
Trading volume across the 12 spot Bitcoin ETFs surged to $6.3 billion on Thursday, up from $5.9 million the previous day.
Bitcoin dipped below the $100,000 threshold following a hawkish address by Fed Chairman Jerome Powell.
The Block’s GMCI 30 index, which tracks the performance of the 30 largest cryptocurrencies, dropped 6.3% over the past 24 hours.
Simultaneously, U.S. Ethereum spot ETFs saw outflows totaling $60.5 million, disrupting an 18-day trend of inflows.
