According to The Block: Fidelity's spot Bitcoin and Ethereum ETFs both set records for the largest net outflows on Wednesday.
The total net outflow reported by spot Bitcoin ETFs was $582 million, while the spot Ethereum funds saw a net outflow of $159 million.
Fidelity's spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the US experienced the largest single-day net outflow to date on Wednesday.
The Bitcoin ETF issued by FBTC reported a net outflow of $258.7 million yesterday, leading to a total negative outflow of $582.9 million for the day. According to SoSoValue data, seven other ETFs also experienced net outflows, with Ark's and 21Shares' ARKB recording an outflow of $148.3 million.
The world's largest Bitcoin ETF by net assets, BlackRock's IBIT, recorded over $124 million in outflows, becoming its third-largest single-day net outflow. Funds from Valkyrie, Bitwise, Invesco, Grayscale, and Franklin Templeton also experienced net outflows yesterday.
The trading volume of US spot Bitcoin ETFs on Wednesday was $3.4 billion, and following the latest outflow, their cumulative net inflows totaled $36.37 billion.
Meanwhile, Fidelity's FETH accounted for the majority of Wednesday's spot Ethereum ETF outflows, totaling $147.7 million out of a total outflow of $159.3 million.
Despite FETH experiencing the largest outflow to date, nine Ethereum ETFs also recorded the largest cumulative outflow since July 26 of last year. Grayscale's ETHE and the mini Ethereum trust also reported negative outflows for the day.
The total trading volume of spot Ethereum ETFs decreased from $818.9 million the previous day to $458.6 million on Wednesday, with their cumulative net inflows totaling $2.52 billion.
Despite setting record outflows on Wednesday, Fidelity's ETFs still maintain the second-largest cumulative net inflows among spot Bitcoin and Ethereum funds.
