Fidelity Bitcoin ETF’s $191 million outflow surpasses Grayscale as BlackRock records first redemptions
Quick Take
Farside data shows that on May 1, Bitcoin exchange-traded funds (ETFs) suffered a record $563.7 million outflow – the worst single-day performance since their inception. This massive capital exodus marked the sixth consecutive trading day of withdrawals, aligning with Bitcoin’s over 20% plunge from its all-time high.
BlackRock’s IBIT saw its first redemption of $36.9 million since launch after five straight days of no flows. Despite this, IBIT maintains an impressive $15.4 billion in total inflows. Fidelity’s FBTC experienced its largest single-day outflow of $191.1 million, the fifth consecutive trading day of withdrawals, yet still boasts $7.9 billion in cumulative inflows, according to Farside data.
Farside data shows that Ark’s ARKB endured its biggest outflow of $98.1 million, bringing total inflows down to $2.1 billion. Grayscale’s GBTC saw $167.4 million redeemed, its largest single-day outflow since April 8, pushing total net outflows to a staggering $17,469.9 billion. Despite the recent turmoil in Bitcoin price, Bitcoin ETFs have collectively accumulated a substantial $11.2 billion in net inflows.
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.
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