This week, Fidelity witnessed record outflows from its bitcoin and ether ETFs. This marks the largest single-day outflow for these funds historically.
Record Outflows in ETFs
On Wednesday, total net outflows from bitcoin ETFs reached $582 million, while ether ETFs saw a $159 million outflow. This marked the largest one-day outflow for Fidelity's crypto-focused funds.
Bitcoin ETF Performance
Fidelity’s FBTC ETF reported net outflows of $258.7 million. Other ETFs like Ark and 21Shares' ARKB also recorded significant outflows amounting to $148.3 million. BlackRock’s IBIT, the largest bitcoin ETF, saw over $124 million in net outflows, marking its third-largest negative flow since inception.
Ether ETF Performance
Fidelity's FETH accounted for the majority of ether ETF outflows on Wednesday, representing $147.7 million of the $159.3 million total. The trading volume for spot ether ETFs significantly shrank to $458.6 million from $818.9 million the previous day.
Despite the record outflows, Fidelity's funds continue to hold the second-largest cumulative net inflows among spot bitcoin and ether funds, reflecting ongoing investor interest in these assets despite significant market shifts.
