U.S. spot Bitcoin exchange-traded funds (ETFs) witnessed their largest-ever single-day outflows on Thursday, with $680 million exiting the products, ending a 15-day streak of positive flows.
Fidelity’s FBTC led the outflows, losing $208.6 million, followed by Grayscale’s Bitcoin Mini Trust, which saw $188.6 million withdrawn. Ark and 21Shares’ ARKB ETF logged $108.4 million in outflows, while Grayscale’s GBTC shed $87.9 million. Bitwise’s BITB experienced $43.6 million in outflows, with VanEck and Valkyrie ETFs also seeing significant withdrawals.
Notably, BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, reported no flows for the day. WisdomTree’s BTCW was the sole ETF among the 12 tracked funds to record positive inflows, gaining $2 million.
Trading volume across the 12 spot Bitcoin ETFs surged to $6.3 billion on Thursday, up from $5.9 billion the previous day. This activity coincided with a sharp market downturn, as Bitcoin dipped below the $100,000 mark, trading at approximately $97,061, down 4.2% over 24 hours. Ethereum also fell 7.9% to $3,380, while the Block’s GMCI 30 index, tracking the top 30 cryptocurrencies, dropped 6.3%.
Meanwhile, U.S. spot Ethereum ETFs recorded $60.5 million in outflows, ending an 18-day streak of inflows, further reflecting the turbulent state of the crypto markets.