Fidelity Bitcoin ETF’s $191 million outflow surpasses Grayscale as BlackRock records first redemptions Quick Take
Farside data shows that on May 1, Bitcoin exchange-traded funds (ETFs) suffered a record $563.7 million outflow – the worst single-day performance since their inception. This massive capital exodus marked the sixth consecutive trading day of withdrawals, aligning with Bitcoin’s over 20% plunge from its all-time high.
BlackRock’s IBIT saw its first redemption of $36.9 million since launch after five straight days of no flows. Despite this, IBIT maintains an impressive $15.4 billion in total inflows. Fidelity’s FBTC experienced its largest single-day outflow of $191.1 million, the fifth consecutive trading day of withdrawals, yet still boasts $7.9 billion in cumulative inflows, according to Farside data.
Farside data shows that Ark’s ARKB endured its biggest outflow of $98.1 million, bringing total inflows down to $2.1 billion. Grayscale’s GBTC saw $167.4 million redeemed, its largest single-day outflow since April 8, pushing total net outflows to a staggering $17,469.9 billion. Despite the recent turmoil in Bitcoin price, Bitcoin ETFs have collectively accumulated a substantial $11.2 billion in net inflows.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.