BlackRock and Fidelity funds drive $635m Bitcoin ETF outflow

Key points

• IBIT lost $254m and FBTC $217m, together about 74% of Thursday's withdrawals
• The outflow erased almost 60% of the $1.08bn taken in over the previous three sessions
• Bitcoin ETFs remain $443m positive for the week but $175m down month-to-date

US spot Bitcoin ETF outflows reached $635m on Thursday, the largest single-day exit since 25 June, Bitcoin.com News reports. The move ended a three-session run that had drawn $1.08bn and wiped out almost 60% of it.

BlackRock's IBIT shed $254m and Fidelity's FBTC $217m, together roughly 74% of the day's selling. Ark and 21Shares' ARKB lost $109m, Grayscale's GBTC $29.5m and Bitwise's BITB $27.4m, while Morgan Stanley's MSBT was the only fund to gain, at $2.33m. Trading value was $2.56bn and net assets fell by nearly $5bn to $105bn.

Ether and altcoin flows

The reversal was sharp. IBIT and FBTC had taken in a combined $448m on Wednesday, then lost $472m a day later. Bitcoin fell below $81,000 on Thursday after nearing $85,000 the previous day. Despite the drop, Bitcoin ETFs are still $443m positive for the week, though month-to-date flows show a $175m deficit.

Ether funds also swung back, losing $111m after a $15m inflow on Wednesday, with BlackRock's ETHA down $75.5m. Zcash drew a second straight inflow, $14.2m into Grayscale's ZCSH, while Solana ETFs lost $8.51m a day after ending a 12-session outflow streak.

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