- U.S.-listed Bitcoin ETFs continued their slow performance on Thursday.
- Only one fund recorded an inflow.
- Fidelityโs fund posted its first outflow.
The Fidelity Wise Origin Bitcoin Fund (FBTC) witnessed a massive outflow on Thursday, marking the first day investors drained funds from the Bitcoin ETF since its debut on January 11.
Sponsored
FBTCโs record outflow comes after BlackRockโs IBIT fund fell out of favor on Wednesday, breaking a 71-day inflow streak after posting $0 flow. Seven of the other 10 ETFs followed IBITโs lead and recorded zero inflows.
Fidelityโs FBTC First Outflow
According to preliminary data by Farside Investors, Fidelityโs FBTC saw outflows totaling $22.6 million on April 25, an underperformance compared to April 24 when the fund was among the only two ETFs with an inflow. On Wednesday, FBTC accounted for $5.4 million of the dayโs $9.8 million total inflow.
Other casualties of Thursdayโs market turmoil included ARK 21Sharesโ ARKB, Valkyrieโs BRRR, and Bitwiseโs BITB funds, which witnessed outflows of $31.3 million, $20.2 million, and $6 million, respectively.
Franklin Templetonโs EZBC fund was the only Nasdaq-listed spot Bitcoin ETF that recorded an inflow on Thursday, attracting $1.9 million from investors as Grayscaleโs converted ETF bled a staggering $139.4 million.
As for BlackRockโs IBIT fund, the ETF witnessed zero inflows on Thursday, just as it did the previous day. Other funds that followed suit with zero amount of flows on Thursday include Invescoโs BTCO, VanEckโs HODL, WisdomTreeโs BTCW, and Hashdexโs DEFI.
Read how Morgan Stanley wants to supercharge Bitcoin ETF demand:
Morgan Stanley To Supercharge Bitcoin ETF Demand: Hereโs How
Stay updated on Russiaโs steps toward crypto regulation:
Russia Advances โKnow Your Crypto Clientโ Tests with Banks
