Reported by The Block: Fidelity’s spot bitcoin and ether ETFs both recorded their largest net outflows on Wednesday.
Spot bitcoin ETFs reported total net outflows of $582 million, while spot ether funds saw $159 million net outflows.
Fidelity's U.S. spot bitcoin and Ethereum exchange-traded funds (ETFs) experienced their largest single-day net outflows to date on Wednesday.
FBTC, the issuer’s bitcoin ETF, reported $258.7 million net outflows yesterday, leading the day’s negative flows that totaled $582.9 million, according to data from SoSoValue. Seven other ETFs experienced net outflows, with Ark and 21Shares' ARKB recording $148.3 million in outflows.
BlackRock’s IBIT, the largest bitcoin ETF by net assets, recorded negative flows worth over $124 million, marking its third-largest daily net outflow on record. Funds from Valkyrie, Bitwise, Invesco, Grayscale and Franklin Templeton also saw net outflows yesterday.
U.S. spot bitcoin ETFs saw $3.4 billion in trade volume on Wednesday, and with the latest outflows, their total cumulative net inflow stood at $36.37 billion.
Meanwhile, Fidelity's FETH accounted for the majority of Wednesday's spot Ethereum ETF outflows, representing $147.7 million of the total $159.3 million.
While FETH experienced its largest outflow to date, the nine ether ETFs also saw their largest combined outflow since July 26 of last year. Grayscale’s ETHE and mini Ethereum trust also reported negative flows for the day.
The total trading volume of the spot ether ETFs shrank to $458.6 million on Wednesday from $818.9 million the day before, and their cumulative total net inflow stood at $2.52 billion.
Despite Wednesday's record outflows, Fidelity's ETFs still held the second-largest cumulative net inflows among spot bitcoin and ether funds.
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