Fidelity and BlackRock Lead $236.5M Bitcoin ETF Outflows

Fidelity's Bitcoin exchange-traded fund (ETF) saw a net outflow of $43.7 million on September 1, adding to a reversal in sentiment across the US market.

This withdrawal was notable, but not the largest for the day. BlackRock's iShares Bitcoin Trust ETF recorded an even larger $201.2 million outflow, accounting for most of the $236.5 million that left spot Bitcoin ETFs during the session.

Fidelity's Wise Origin Bitcoin Fund (FBTC) has seen a mixed August and September so far, with $6.9 million invested on August 31 after recording an $83.6 million outflow on August 27.

Despite this latest withdrawal, the overall flow remains positive, with FBTC having seen about $10.21 billion in net inflows overall since its launch.