Grayscale's GBTC, along with ETFs from Ark and 21Shares, Bitwise, VanEck, Invesco, Valkyrie and Franklin Templeton, also posted net outflows.
Bitcoin News
U.S. spot Bitcoin exchange-traded funds posted $869.9 million net outflows Thursday, marking the second-largest single-day exit since launch. The mass exodus coincided with a broader cryptocurrency market sell-off as Bitcoin fell 6.4% to $96,956.
Grayscale's Bitcoin Mini Trust led outflows with $318.2 million, according to SoSoValue data. BlackRock's IBIT recorded $256.6 million in net outflows while Fidelity's FBTC saw $119.9 million exit the fund. Grayscale's GBTC, along with ETFs from Ark and 21Shares, Bitwise, VanEck, Invesco, Valkyrie and Franklin Templeton, also posted net outflows.
Thursday's exits rank as the second-largest daily outflow since ETF launch. The largest outflows occurred on Feb. 25, 2025, when funds experienced $1.14 billion in single-day departures.
Vincent Liu, CIO of Kronos Research, characterized large outflows as a risk-off reset reflecting institutions pulling back amid macro noise. The flow weighs on short-term momentum but doesn't diminish broader structural demand, with bleed-outs aligning with oversold conditions.
Min Jung, research associate at Presto Research, noted the signal indicates broad de-risking across markets. Investors are rotating capital from higher-beta assets into safety, reflecting uncertainty around the Federal Reserve's path and deteriorating macro sentiment.
Justin d'Anethan, head of research at markets advisory firm Arctic Digital, identified current levels as potential support zones. Prices reaching the lower $90,000s could present buying opportunities, especially for sidelined investors, he stated. Rate-cut expectations have reset with December cut odds dropping to 52.1% according to CME Group's FedWatch tool.
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