Fidelity’s spot bitcoin ETF records outflow for first time
Several other U.S. bitcoin funds reported daily outflows, totaling a drainage of $217.58 million. Grayscale’s converted ETF lost $139.37 million, while Ark Invest and 21Shares’ fund saw $31.34 million move out, SoSoValue data showed. Valkyrie’s fund lost $20.16 million and Bitwise saw an outflow of $6 million.
Franklin Templeton’s EZBC was the only fund that saw daily net inflows, drawing in $1.87 million. BlackRock’s IBIT fund saw zero amount of flows on Thursday, according to crypto analyst HODL15Capital , as it did on Wednesday, ending its 71-day streak of positive flows. However, zero flows are typical in ETFs, according to Bloomberg ETF Analyst James Seyffart.
Fund inflows were essentially non-existent post-bitcoin halving, Hong Song-uk, an analyst at NH Investment and Securities, said in a Friday report . “There are no follow-up events that focus attention on Bitcoin in the near term," Hong said.
Bitcoin is trading hands at $64,410 at publication time, according to The Block’s Price Page . About $58.2 million worth of bitcoin was liquidated in the past 24 hours, $35 million of which were long positions, according to Coinglass data .
