Institutional Bitcoin ETFs Experience $200 Million in Outflows

Large-scale withdrawals were recorded by several prominent institutional Bitcoin exchange-traded funds (ETFs) on May 24th. According to data from Farside Investors, as reported by BlockBeats, Fidelity’s FBTC, ARK Invest’s ARKB, and Grayscale’s GBTC experienced combined outflows exceeding $200 million. Notably, Grayscale’s GBTC saw the largest withdrawal of $89.2 million. ARK’s ARKB ETF followed with $73.9 million in outflows, while Fidelity’s FBTC witnessed $73.7 million in withdrawals. These substantial outflows highlight current market dynamics in the institutional Bitcoin ETF space.