Bitcoin ETFs in the United States experienced their highest combined outflows in a single day, with a total of $326 million being withdrawn from the 10 funds on March 19. Grayscale’s Bitcoin Trust (GBTC), which had over $23.7 billion in assets under management as of March 19, saw the largest outflows of $443.5 million. However, BlackRock, Fidelity, and Bitwise’s ETFs were the only funds to see net inflows on that day. The three funds collectively received $117.3 million in net inflows, with BlackRock’s iShares Bitcoin Trust (IBIT) leading with $75.2 million, followed by Fidelity Wise Origin Bitcoin Fund (FBTC) with $39.6 million. The Bitwise Bitcoin ETF (BITB) had the lowest net inflows of just $2.5 million. These outflows occurred while the price of Bitcoin dropped to $62,400 on March 19, following its recent all-time high of $73,835 on March 14. In the last 24 hours, Bitcoin has fallen 5.4% and is currently trading at $61,173. GBTC also experienced its largest outflow day on March 18, with $642.5 million being withdrawn. Since its conversion from a trust to an ETF on January 11, GBTC has seen outflows totaling nearly $12.9 billion in the span of 49 trading days.
Grayscale on Track to Exhaust Bitcoin Holdings in 4 Months as Largest ETF Records Massive Outflow