Coinspeaker
Spot Bitcoin ETFs See Largest Daily Net Outflows on May 1

The United States spot Bitcoin Exchange-traded Fund (ETF) market is not healing from the lack of enthusiasm that it has been faced with in the last couple of days.

Demand has rather gotten worse as it saw its largest daily net outflows from all nine spot Bitcoin ETFs on Wednesday. Even the top-performing Bitcoin ETFs from investment asset management firms BlackRock Inc (NYSE: BLK) and Fidelity Investments were not left out.

Multiple Outflows on All Spot Bitcoin ETFs

A total of $563.7 million was recorded as total net outflows for the ETFs. Fidelity’s FBTC saw the largest outflow of more than $191 million amongst the other ETFs. Compared to Grayscale’s GBTC which has had a trend of massive outflows from the first week that the spot Bitcoin ETFs began trading in the US Fidelity’s outflow was significant.

According to SoSo Value data, the Sonnenshein-led Grayscale registered only $167.3 million in net outflows. ARK 21Shares, which is expecting a decision from the US Securities and Exchange Commission (SEC) this May on its Ethereum ETF application, witnessed ...