6 days of Bitcoin ETF outflows – Where do BlackRock, Fidelity stand?
What are Bitcoin ETFs?
Bitcoin ETFs are exchange-traded funds that primarily invest in assets related to Bitcoin, such as futures contracts or stocks of companies involved in cryptocurrency2. They allow investors to gain exposure to Bitcoin's price movements without directly buying or holding the cryptocurrency. Some Bitcoin ETFs track the spot price of Bitcoin, while others invest in Bitcoin-related derivatives or equities.
What was the outflow amount for Grayscale Bitcoin Trust on a single day?
The Grayscale Bitcoin Trust experienced a staggering outflow of $640 million on a single day, marking the highest single-day withdrawal in its history5.
How much did Fidelity Wise Origin Bitcoin Fund's outflows total?
Fidelity Wise Origin Bitcoin Fund (FBTC) experienced total outflows of $44.8 million during the period from 13 to 21 June, excluding 19 June1. This was the highest among Bitcoin ETFs during this time, followed by Grayscale Bitcoin Trust (GBTC) which saw outflows of $34.2 million in a single day.