Massive outflows hit U.S. Bitcoin ETFs as trading sessions on Thursday saw a total of $226.21 million exiting the market. Fidelity's FBTC took the biggest hit, with $106 million leaving the fund.
The day prior, on Wednesday, the 11 spot bitcoin ETFs had attracted $100.8 million. However, Thursday painted a different picture with a significant outflow of $226.21 million. The total trading volume for the day was $1.77 billion, leaving the group with a cumulative net inflow of $15.30 billion. The only fund to receive inflows was Blackrock's IBIT, which gained around $18 million.
Among the major outflows, Fidelity's FBTC led the pack with $106 million exiting the fund. Following closely behind was Grayscale's Bitcoin Trust (GBTC) with $62 million in outflows, as reported by sosovalue.xyz's ETF dashboard. Ark Invest and 21shares' ARKB fund saw $53 million leaving, while Bitwise's BITB shed $10 million. Invesco and Galaxy ETF BTCO lost $3 million, and Vaneck's HODL divested $11 million during the trading sessions.
The remaining spot bitcoin ETFs experienced a neutral day with no significant inflows or outflows. With Blackrock's BTC fund now holding 305,568.82 BTC after absorbing $18 million, and Grayscale's fund commanding 282,147.69 BTC after $62 million left, Fidelity's FBTC held 172,753.41 BTC and $709 in cash, approaching the 200,000 BTC mark.
What are your thoughts on the U.S. spot bitcoin activity on Thursday? Feel free to share your opinions in the comments section below.