Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

United States-based spot Bitcoin&nbsp;exchange-traded funds (ETF) have posted record net outflows, with BlackRock’s iShares Bitcoin Trust also seeing its first-ever outflow day.
BlackRock’s Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>)&nbsp;fund saw $36.9 million flow out on May 1, <a href="https://farside.co.uk/?p=1321" target="_blank" rel="noopener nofollow">according</a> to Farside Investors.
Nine other Bitcoin ETFs saw a combined $526.8 million in outflows, with the Hashdex Bitcoin ETF being the only one with zero flows,&nbsp;<a href="https://farside.co.uk/?p=1321" target="_blank" rel="noopener nofollow">according</a>&nbsp;to&nbsp;preliminary Farside data.
The largest outflow for the day was the&nbsp;Fidelity Wise Origin Bitcoin Fund, which saw $191.1 million in net outflows. 
The&nbsp;Grayscale Bitcoin Trust took the second spot with outflows of $167.4 million.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-05/b84a965a-eab2-4dea-9ac6-cca76acd0ed4.png" alt="" title="">
 <figcaption style="text-align: center;">
 Spot Bitcoin ETF flows since April 24. Source: Farside Investors
 </figcaption>
</figure>
It is the largest single outflow day for the U.S.-based spot Bitcoin ETFs since they launched in January. The ARK 21Shares Bitcoin ETF and Franklin Bitcoin ETF also saw $98.1 million and $13.4 million in outflows, respectively.
It comes as Bitcoin has fallen 10.7% over the last week.
Related: <a href="https://cointelegraph.com/news/australian-stock-exchange-asx-approve-spot-bitcoin-etf">Australia’s top exchange may approve spot Bitcoin ETFs this year: Report</a>
However, ETF Store president Nate Geraci pointed out that the iShares Gold ETF and SPDR Gold ETFs have had $1 billion and $3 billion in outflows so far this year.
Yet, gold is up 16% year-to-date, Geraci <a href="https://x.com/NateGeraci/status/1785849570552852579" target="_blank" rel="noopener nofollow">noted</a> in a May 2 X post.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-05/dfd7cb00-52ea-44c8-abd1-7470a78f7ba0.png" alt="" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/NateGeraci/status/1785849570552852579" target="_blank" rel="noopener nofollow">Nate Geraci</a>
 </figcaption>
</figure>
Bloomberg ETF analyst James Seyffart <a href="https://x.com/JSeyff/status/1785843582420541666" target="_blank" rel="noopener nofollow">noted</a> that the Bitcoin ETFs are still “operating smoothly across the board” and that “inflows and outflows are part of the norm in the life of an ETF.”
Magazine: <a href="https://cointelegraph.com/magazine/get-bitcoin-or-die-tryin-why-hip-hop-stars-love-crypto/">Get Bitcoin or die tryin’: Why hip hop stars love crypto</a>

BlackRock Bitcoin ETF sees first outflow day amid record ETF bleed

Cointelegraph

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