Daily outflow from spot Bitcoin ETFs reached a record $526 million

🗒 On May 1st, the outflow from spot Bitcoin ETFs hit a 🏔 peak since the approval of the products—$563.8 million. BlackRock's IBIT recorded a negative trend for the first time—minus $36.93 million.

👀 From Fidelity's FBTC, clients withdrew $191.1 million—more than from Grayscale's GBTC ($167.3 million).

🙀 In ARKB from Ark Invest, the outflow amounted to $98.1 million—the third largest in history.

🤔 The total inflow into these products since their registration has decreased to $11.2 billion. By the end of April, this figure had dropped by $343.5 million.

Looks like institutions are quite disappointed in Bitcoin 😁