The United States’ spot Bitcoin ( BTC ) exchange-traded funds (ETF) have posted record net outflows with BlackRock’s iShares Bitcoin Trust (IBIT) also seeing its first-ever outflow day.

BlackRock’s Bitcoin fund saw $36.6 million flow out on May 1, according to HODL15 Capital.

Nine other Bitcoin ETFs saw a combined $526.8 million in outflows — the Hashdex Bitcoin ETF (DEFI) was the only one with zero flows,  per preliminary Farside Investors data.

The largest outflow for the day was the Fidelity Wise Origin Bitcoin Fund (FBTC), which saw $191.1million in net outflows.

The Grayscale Bitcoin Trust (GBTC) was second with an outflow of $167.4 million.

It is the largest single outflow day for the U.S. spot Bitcoin ETFs, which saw the ARK 21Shares Bitcoin ETF and Franklin Bitcoin ETF at $98.1 million and $13.4 million in outflows, respectively.

It comes as Bitcoin has fallen 10.7% over the last week.

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However, ETF Store president Nate Geraci pointed out that the iShares Gold ETF and SPDR Gold ETFs have had $1 billion and $3 billion in outflows so far this year.

Yet, gold is up 16% year-to-date, Geraci noted in a May 2 X post.

Source: Nate Geraci

Bloomberg ETF analyst James Seyffart noted that the Bitcoin ETFs are still “operating smoothly across the board” and that “inflows and outflows are part of the norm in the life of an ETF.”

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