Bitcoin ETFs Experience Record Outflow of $563.7 Million in Single Day
According to data from Farside, Bitcoin exchange-traded funds (ETFs) saw a record outflow of $563.7 million on May 1. This marks the worst single-day performance for Bitcoin ETFs since their inception. The massive capital exodus comes as Bitcoin has experienced a over 20% decline from its all-time high.
BlackRock’s IBIT also saw its first redemption of $36.9 million since its launch, following five consecutive days of no flows. Despite this, IBIT still has a total of $15,441.7 billion in inflows. Fidelity’s FBTC saw its largest single-day outflow of $191.1 million, marking the fifth straight day of withdrawals. However, FBTC maintains $7,927.5 billion in cumulative inflows.
Ark’s ARKB experienced its largest outflow of $98.1 million, bringing total inflows down to $2,124.9 billion. Grayscale’s GBTC had $167.4 million redeemed, its biggest single-day outflow since April 8, leading to total net outflows of $17,469.9 billion. Despite the recent volatility in Bitcoin price, Bitcoin ETFs have accumulated a total of $11,221.5 billion in net inflows.
The data suggests a significant shift in investor sentiment towards Bitcoin ETFs as they grapple with market turmoil.
