TLDR
Fidelity Wise Origin Bitcoin ETF (FBTC) led Thursdays outflows with about $104 million net out, per flow data for Dec 11 (UTC) from SoSoValue reported by PANews the report.
- iShares Bitcoin Trust (IBIT) saw a roughly $76.70 million inflow on the day.
- Bitwise Bitcoin ETF (BITB) added about $8.44 million in inflows.
- Combined spot BTC ETFs posted a net outflow of roughly $77.34 million for the day.
Deep Dive
1. Outflow Leader
FBTC was the single largest outflow among spot Bitcoin ETFs on Thursday, with around $104 million leaving the fund (see the report above). This placed Fidelity as the key drag on the days aggregate flows.
2. Counterflows
Despite FBTCs outflow, IBIT recorded about $76.70 million of inflows and BITB added $8.44 million (see the report above). IBITs persistent inflows have driven its cumulative net inflows to a very large historical total, while BITB continues to show steady participation alongside the bigger issuers.
Even on a net-outflow day, leadership can rotate. When a major fund leads outflows, other large products can still attract capital, signaling mixed sentiment rather than uniform risk-off.
3. Market Context
Across all U.S. spot BTC ETFs, Thursdays net flow tallied to roughly -$77.34 million, a modest net-outflow session in the context of recent weeks (see the report above). Flow dispersionone large outflow offset by inflows elsewhereoften reflects tactical repositioning, not necessarily a broad liquidation.
If you are watching liquidity and sentiment, track both the aggregate net flow and the issuer-level splits. A single funds move can skew the headline, but breadth across issuers helps confirm whether risk is broadly exiting or simply rotating.
Conclusion
FBTC led Thursdays outflows, while IBIT and BITB posted inflows, leaving the day modestly net negative overall. The split points to rotation rather than an across-the-board risk-off, so monitoring issuer dispersion alongside totals can improve read-through on sentiment and liquidity.
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