Bitcoin ETFs Record Massive $563.7 Million Outflow, Led by Fidelity and BlackRock

By: Eliza Bennet

Overview

On May 1, Bitcoin exchange-traded funds (ETFs) experienced a record outflow of $563.7 million, marking the poorest single-day performance since their inception. This sharp capital withdrawal aligns with Bitcoin's over 20% decline from its all-time high, marking the sixth consecutive day of outflows.

Fidelity's FBTC led the outflows with its largest single-day withdrawal of $191.1 million, noting its fifth straight trading day of withdrawals, leaving a substantial $7,927.5 billion in cumulative inflows. BlackRock's IBIT also recorded its first ever redemption of $36.9 million after five consecutive days without activity, while preserving a massive $15,441.7 billion in total inflows.

In addition, Ark's ARKB recorded its highest outflow of $98.1 million, reducing total inflows to $2,124.9 billion. Grayscale's GBTC saw its largest single-day outflow since April 8, pushing total net outflows to a staggering $17,469.9 billion. Despite the recent Bitcoin turmoil, these ETFs collectively accounted for a significant $11,221.5 billion increase in net inflows.