Fidelity Spot Bitcoin and Ethereum ETFs See Record Daily Net Outflows

Fidelity's spot Bitcoin (FBTC) and Ethereum (FETH) ETFs recorded their largest single-day net outflows on Wednesday, according to data from SoSoValue reported by The Block. The historic withdrawals highlight shifting investor sentiment in the cryptocurrency ETF market.Key HighlightsLargest Daily Outflows on RecordSpot Bitcoin ETFs: Total net outflows reached $582 million, with Fidelity's FBTC accounting for $259 million.Spot Ethereum ETFs: Total net outflows hit $159 million, with Fidelity's FETH contributing $148 million.Other funds, including BlackRock’s IBIT and 21Shares’ ARKB, also experienced significant outflows, recording $124 million and $148 million, respectively.Fidelity's Position Remains StrongDespite the record-breaking outflows, Fidelity's ETFs maintain the second-largest cumulative net inflow among all spot Bitcoin and Ethereum funds, showcasing continued investor confidence in the firm's offerings.Market ImplicationsThe outflows coincide with broader market trends and may reflect short-term uncertainty in cryptocurrency markets. However, Fidelity's strong cumulative inflow position underscores its resilience and long-term investor trust.