BlackRock Bitcoin ETF sees the first exit date among registered ETFs
The US-based space posted a record net outflow of Bitcoin exchange-traded funds (ETF), while BlackRock's iShares Bitcoin Trust also saw its first-ever outflow day.
BlackRock's Bitcoin (BTC) fund saw $36.9 million in withdrawals on May 1, according to Farside Investors.
Nine other Bitcoin ETFs saw $526.8 million in outflows, with the Hashdex Bitcoin ETF the only one with zero outflows, according to preliminary foreshore data.
The biggest outflow of the day was the Fidelity Wise Origin Bitcoin fund, which saw net outflows of $191.1 million.
The Greyscale Bitcoin Trust took second place with $167.4 million in spending.
It's the biggest single day of outflows for the US-based space's Bitcoin ETFs since they launched in January. The ARK 21Shares Bitcoin ETF and the Franklin Bitcoin ETF also saw losses of $98.1 million and $13.4 million, respectively.
It comes as Bitcoin fell by 10.7% last week.
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However, ETFStore President Nate Gerasi noted that so far this year, the iShares Gold ETF and the SPDR Gold ETF have lost $1 billion and $3 billion, respectively.
However, gold is up 16 percent year-to-date, Gerasi noted in a May 2 X post.
Bloomberg ETF analyst James Seifert said Bitcoin ETFs are still “running smoothly across the board” and that “inflows and outflows are a normal part of an ETF's life.”
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