The U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded historic outflows on Thursday, with investors pulling a net $671.9 million—the largest single-day withdrawal since their launch on January 11, according to data from Coinglass and Farside Investors. The selloff came as Bitcoin extended its post-Federal Reserve losses, dropping below $100,000.
Fidelity’s FBTC and Grayscale’s GBTC led the withdrawals, losing $208.5 million and $188.6 million, respectively. Other funds also saw significant outflows, while BlackRock’s IBIT experienced its first zero inflow day in weeks.
Bitcoin’s price fell to $96,000 on Thursday, marking a nearly 10% decline from its record high of $108,268 earlier in the week. The bearish sentiment extended into the derivatives market, where the annualized premium on CME’s regulated one-month Bitcoin futures dropped to 9.83%—the lowest level in over a month, according to Amberdata.
This decline in futures premium suggests reduced profitability for cash-and-carry arbitrage strategies, which rely on long ETF positions and short CME futures positions. As a result, ETFs may continue to experience muted demand in the near term.
Additionally, Ether (ETH) ETFs registered a net outflow of $60.5 million, the first since November 21. Ether prices have fallen by 20% from levels above $4,100 before Wednesday’s Fed decision, reflecting broader weakness in the crypto market.The U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded historic outflows on Thursday, with investors pulling a net $671.9 million—the largest single-day withdrawal since their launch on January 11, according to data from Coinglass and Farside Investors. The selloff came as Bitcoin extended its post-Federal Reserve losses, dropping below $100,000.
Fidelity’s FBTC and Grayscale’s GBTC led the withdrawals, losing $208.5 million and $188.6 million, respectively. Other funds also saw significant outflows, while BlackRock’s IBIT experienced its first zero inflow day in weeks.
Bitcoin’s price fell to $96,000 on Thursday, marking a nearly 10% decline from its record high of $108,268 earlier in the week. The bearish sentiment extended into the derivatives market, where the annualized premium on CME’s regulated one-month Bitcoin futures dropped to 9.83%—the lowest level in over a month, according to Amberdata.
This decline in futures premium suggests reduced profitability for cash-and-carry arbitrage strategies, which rely on long ETF positions and short CME futures positions. As a result, ETFs may continue to experience muted demand in the near term.
Additionally, Ether (ETH) ETFs registered a net outflow of $60.5 million, the first since November 21. Ether prices have fallen by 20% from levels above $4,100 before Wednesday’s Fed decision, reflecting broader weakness in the crypto market.
