U.S. spot Bitcoin exchange-traded funds (ETFs) experienced their largest single-day outflows on Thursday, with $680 million withdrawn, ending a 15-day streak of positive flows. Fidelity’s FBTC saw the largest outflows, losing $208.6 million, followed by Grayscale’s Bitcoin Mini Trust with $188.6 million, and Ark and 21Shares’ ARKB, which reported $108.4 million in withdrawals. Grayscale’s GBTC shed $87.9 million, while Bitwise’s BITB lost $43.6 million. Other ETFs from VanEck and Valkyrie also reported outflows.
In contrast, BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, reported no flows on the day. WisdomTree’s BTCW was the sole fund among the 12 ETFs to record positive activity, with $2 million in inflows.
The trading volume across the 12 ETFs surged to $6.3 billion on Thursday, a significant increase from the previous day’s $5.9 million. However, Bitcoin’s price dropped below the $100,000 mark, trading down 4.2% over 24 hours to approximately $97,061. This decline followed a hawkish speech by Federal Reserve Chair Jerome Powell. Ethereum also saw a sharp decline, losing 7.9% to trade at $3,380.
The broader cryptocurrency market reflected this downturn, with The Block’s GMCI 30 index—a measure of the top 30 cryptocurrencies—dropping 6.3% in 24 hours. Spot Ethereum ETFs in the U.S. also recorded $60.5 million in outflows on Thursday, ending an 18-day streak of inflows.