Investor Exodus from Bitcoin ETFs Results in $218M Outflows

By: Eva Baxter

In a significant shift, Bitcoin Exchange-Traded Funds (ETFs) have seen a diminishing investor interest, with outflows reaching a staggering $218 million in a single day. Key players such as BlackRock's IBIT and Fidelity's FBTC experienced substantial outflows, their second and first day of net outflows respectively. An array of several US Bitcoin funds also experienced substantial daily outflows, notably Grayscale’s GBTC, Ark Invest, and 21Shares' ARKB fund. One exception to this trend was Franklin Templeton's EZBC, the only fund to attract daily net inflows of $1.87 million. Despite the significant outflows, net inflows since the launch of these ETFs in January still remain impressive at over $12 billion.