The outflows from the U.S. spot Bitcoin ETFs have exacerbated further surging past $500 million on Wednesday, May 1. This massive selling pressure comes following the FOMC meeting when Fed Chair Jerome Powell announced to keep interest rates unchanged pushing the Bitcoin price another 5% down to $57,500.
Fidelity Bitcoin ETF Outflows Beat Grayscale’s
As per data from Farside investors, the net outflows from spot Bitcoin ETFs on Wednesday were $563.7 million. BlackRock Bitcoin ETF IBIT registered the first outflow since the inception of $37 million. On the other hand, Fidelity’s FBTC recorded the highest outflows at $191 million beating Grayscale’s GBTC at $167 million. For the very first time, all of the nine spot Bitcoin ETFs in the US registered net outflows in a single day.
On Wednesday, the price of Bitcoin ETFs witnessed one of the largest discounts on the underlying assets….
