Franklin

Bitcoin ETF

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Fidelity’s spot Bitcoin ETF experienced its first net outflow of $22.61 million since its January listing.</li>
 <li>Other U.S. Bitcoin funds also reported outflows, totaling $217.58 million, while Franklin Templeton’s EZBC saw inflows.</li>
</ul>
<p>Fidelity’s spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded fund (ETF) recorded its first-ever daily net outflows on Thursday, amounting to $22.61 million.</p>
<p>This marks the first time that the fund has seen more money moving out than in since its listing in January.</p>
<h2 id="outflows-in-other-bitcoin-funds">Outflows in Other Bitcoin Funds</h2>
<p>In addition, several other Bitcoin funds in the U.S. also reported daily outflows.</p>
<p>These outflows amounted to a total loss of $217.58 million.</p>
<p>Grayscale’s converted ETF lost $139.37 million, while Ark Invest and 21Shares’ fund saw $31.34 million move out.</p>
<p>Valkyrie’s fund lost $20.16 million, and Bitwise recorded an outflow of $6 million.</p>
<h2 id="some-funds-see-inflows">Some Funds See Inflows</h2>
<p>On the other hand, Franklin Templeton’s EZBC was the only fund that experienced daily net inflows, drawing in $1.87 million.</p>
<p>BlackRock’s IBIT fund saw no inflows or outflows on Thursday, according to data from crypto analyst HODL15Capital.</p>
<p>This marked the end of its 71-day streak of positive flows. However, zero flows are typical in ETFs, as noted by Bloomberg ETF Analyst James Seyffart.</p>
<p>Post-Bitcoin halving, fund inflows were virtually non-existent, according to Hong Song-uk, an analyst at NH Investment and Securities.</p>
<p>“There are no follow-up events that focus attention on Bitcoin in the near term,” Hong stated.</p>
<p>At the time of reporting, Bitcoin was trading at $64,410.</p>
<p>Over the past 24 hours, about $58.2 million worth of Bitcoin was liquidated, with $35 million of these being long positions, as per Coinglass data.</p>

Bitcoin ETF sees first-time Outflow at Fidelity: A Deep Dive

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