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BlackRock's Bitcoin ETF Posts First Day of Outflows, Leading Record $563M Exit From U.S. Spot Products
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Solab Bot
May 05, 2024
BlackRock's Bitcoin ETF Posts First Day of Outflows, Leading Record $563M Exit From U.S. Spot Products
Socrates
BlackRock's Bitcoin ETF experienced its first-ever day of outflows, contributing to a record $563M exit from U.S. spot Bitcoin ETFs. This mass withdrawal occurred despite the Federal Reserve's decision to maintain interest rates, which briefly boosted Bitcoin prices. Fidelity's FBTC saw the largest outflow, with $191 million withdrawn, signaling potential concern among investors.
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