Isabella García
Fidelity’s U.S. spot Bitcoin (FBTC) and Ethereum (FETH) exchange-traded funds (ETFs) experienced their most significant single-day net outflows to date on Wednesday, highlighting a challenging day for crypto ETFs across the board.
The FBTC, Fidelity’s Bitcoin ETF, led the market with $258.7 million in net outflows, contributing to a total of $582.9 million in negative flows across various funds, according to data from SoSoValue. Notably, seven other ETFs faced substantial outflows, including ARKB by Ark and 21Shares, which reported $148.3 million in losses.
BlackRock’s IBIT, the largest Bitcoin ETF by net assets, also reported over $124 million in outflows, marking its third-largest single-day net outflow ever recorded. ETFs from other major issuers like Valkyrie, Bitwise, Invesco, Grayscale, and Franklin Templeton saw smaller but notable outflows.
Overall, U.S. spot Bitcoin ETFs witnessed $3.4 billion in trade volume on Wednesday. Despite the negative flows, cumulative net inflows for all spot Bitcoin ETFs still totaled $36.37 billion.
Ethereum ETFs Face Largest Outflows Since 2022
Fidelity’s FETH, its Ethereum-focused ETF, accounted for $147.7 million of Wednesday’s $159.3 million total Ethereum ETF outflows. This marked FETH’s largest single-day outflow to date. Additionally, the nine Ethereum ETFs collectively recorded their biggest outflows since July 2022.
Grayscale’s ETHE and Ethereum Mini Trust also saw net outflows, reflecting a broader decline in Ethereum-focused funds.
Spot Ethereum ETFs saw a notable drop in trade volume, falling to $458.6 million on Wednesday from $818.9 million the previous day. Despite this, the total cumulative net inflows for Ethereum ETFs stood at $2.52 billion, underscoring the sector’s overall resilience.
Market Context
Despite Wednesday’s record-setting outflows, Fidelity’s ETFs remain among the top performers, holding the second-largest cumulative net inflows across Bitcoin and Ethereum funds.
At the time of writing, Bitcoin’s price had dipped 2.89% over the past 24 hours to $93,349, while Ethereum was trading at $3,313, down 1.78%, according to PRIME’s crypto price data.
While Wednesday’s activity highlights volatility in the crypto ETF market, the broader trend suggests continued investor interest in digital asset funds. As institutional adoption grows and regulatory clarity improves, the ETF landscape is expected to stabilize, offering long-term growth potential for investors.
