Fidelity’s spot bitcoin exchange-traded fund saw daily net outflows of $22.61 million on Thursday, becoming the first day the ETF saw more funds move out since its January listing, according to SoSoValue data.
Several other U.S. bitcoin funds reported daily outflows, totaling a drainage of $217.58 million. Grayscale’s converted ETF lost $139.37 million, while Ark Invest and 21Shares’ fund saw $31.34 million move out, SoSoValue data showed. Valkyrie’s fund lost $20.16 million and Bitwise saw an outflow of $6 million.
Franklin Templeton’s EZBC was the only fund that saw daily net inflows, drawing in $1.87 million. BlackRock’s IBIT fund saw zero amount of flows on Thursday, according to crypto analyst HODL15Capital, as it did on Wednesday, ending its 71-day streak of positive flows. However, zero flows are typical in ETFs, according to Bloomberg ETF Analyst James Seyffart.
Fund inflows were essentially non-existent post-bitcoin halving, Hong Song-uk, an analyst at NH Investment and Securities, said in a Friday report. “There are no follow-up events that focus attention on Bitcoin in the near term,” Hong said.
Bitcoin is trading hands at $64,410 at publication time, according to The Block’s Price Page. About $58.2 million worth of bitcoin was liquidated in the past 24 hours, $35 million of which were long positions, according to Coinglass data.
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About Author
Danny Park is an East Asia reporter at The Block writing on topics including Web3 developments and crypto regulations in the region. He was formerly a reporter at Forkast.News, where he actively covered the downfall of Terra-Luna and FTX. Based in Seoul, Danny has previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.