Fidelity Spot Bitcoin ETF records first-ever outflow
Fidelity’s physical Bitcoin exchange-traded fund saw daily net outflows of $22.61 million on Thursday, according to SoSoValue data, making it the first day the ETF has seen more money flow out since its listing in January.
Several other US Bitcoin funds reported daily outflows totaling $217.58 million. Grayscale’s convertible ETF lost $139.37 million, while funds from Ark Invest and 21Shares lost $31.34 million. SoSoValue data showed it Valkyrie’s fund suffered a loss of $20.16 million, while Bitwise recorded an outflow of $6 million.
Franklin Templeton’s EZBC was the only fund with daily net inflows of $1.87 million. BlackRock’s IBIT fund had zero flows on Thursday, according to cryptocurrency analysts. HODL15 Capital, as of Wednesday, ending a 71-day streak of positive trends. But zero flow is Typical In ETFs, according to Bloomberg ETF analyst James Seyffart.
NH Investment & Securities analyst Hong Song-wook said, “After the Bitcoin halving, fund inflow was essentially non-existent.” report. CEO Hong said, “There are no follow-up events that will focus attention on Bitcoin in the short term.”
Bitcoin is said to be trading at $64,410 at the time of publication. The Block’s Pricing Page. According to Coinglass, approximately $58.2 million worth of Bitcoin was liquidated in the last 24 hours, of which $35 million were long positions. data.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.
