During the trading session on May 1, American spot BTC-ETFs recorded a record capital outflow of $564 million. $36.9 million was withdrawn from the BlackRock fund, while a whopping $191 million was withdrawn from the Fidelity fund.
This outflow contrasts with March figures, when during peak Bitcoin price levels, daily inflows into spot funds reached $1 billion. From April 24 to 30, there were no new investments from investors in the BlackRock ETF, which is the largest in the group.
Spot ETFs involve the direct purchase of cryptocurrency to secure fund shares or their sale upon redemption. The launch of such ETFs in the US has allowed for the legal trading of Bitcoin through regular brokerage accounts, which previously stimulated capital inflows and contributed to the rise in Bitcoin price in 2024.
