Fidelity’s spot bitcoin ETF records outflow for first time
The Fidelity Wise Origin Bitcoin (FBTC) saw nearly $23 million moved out of the fund on Thursday, recording a daily net outflow for the first time.Other funds from Ark Invest, Bitwise and Valkyrie also saw outflows, on top of Grayscale GBTC’s $139 million drainage.
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 .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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