Bitcoin ETFs See Record Daily Net Outflows Amid BTC Slump

Spot Bitcoin ETFs fall out of favor, recording their largest outflows since debut.

Digital man flexing muscles next to ETF.
Created by Kornelija Poderskytė from DailyCoin
  • Bitcoin ETFs braced a rough trading day on Wednesday.
  • The funds posted record outflows.
  • BlackRock’s IBIT fund bled for the first time.

U.S.-listed spot Bitcoin exchange-traded funds (ETFs) posted record net outflows on Wednesday, with BlackRock’s $15B IBIT fund bleeding for the first time since its launch in January.

The development comes as BTC has shed 3.42% in the past 24 hours following a near 17% plunge in April, its worst monthly drop since FTX’s implosion in November 2022. As of press time, the crypto asset exchanged hands at a two-month low of $57,608, CoinMarketCap data shows.

Bitcoin ETFs Bleed Over Half a Billion

According to preliminary data by Farside Investors, spot Bitcoin ETFs in the U.S. recorded a massive combined net outflow of $563.7 million on Wednesday, making May 1 the largest single outflow day for the funds.


Fidelity’s FBTC led the day’s outflows, with $191.1 million exiting the fund. This eclipsed the $167.4 million drawn from Grayscale’s GBTC, which has seen total outflows of over $15 billion in the last three months.

Ark Invest’s ARKB saw the third-largest outflow of the day, bleeding $98.1 million as BlackRock’s IBIT hemorrhaged for the first time since its debut. The fund recorded a daily net outflow of $36.9 million, ahead of Bitwise BITB’s $29 million.

All the Nasdaq-listed spot Bitcoin ETFs posted daily net outflows on the day except for Hashdex’s DEFI, which saw $0 net inflows.


Franklin Templeton’s EZBC fund bled $13.4 million, while Valkyrie’s BRRR, VanEck’s HODL, WisdomTree’s BTCW, and Invesco’s BTCO posted daily net outflows of $9.7 million, $6.5 million, $6.2 million, and $5.4 million, respectively.

Read about the debut of Hong Kong Bitcoin ETFs from the perspective of analysts:
Analysts Evaluate Hong Kong Bitcoin ETFs’ Disappointing Debut

Stay updated on a new Bitcoin money laundering pattern uncovered by Elliptic:
Elliptic Uncovers ‘Novel’ Bitcoin Money Laundering Pattern

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.