Recent days have seen a significant outflow of $226.21 million from 11 US spot Bitcoin exchange-traded funds (ETFs). This marks a major shift in the crypto investment landscape, with emerging products experiencing some of the largest withdrawals in recent memory.
Fidelity’s FBTC led the pack with its second-largest outflow day since its inception, losing $106 million according to SoSoValue data. Grayscale’s GBTC also felt the impact with $62 million leaving the fund, while Ark Invest and 21Shares’ ARKB saw withdrawals of $53 million.
Bitwise and VanEck each reported around $10 million in net outflows, while Invesco and Galaxy Digital’s BTCO experienced $3 million leaving the funds. The only fund to see a net inflow was BlackRock’s IBIT, pulling in $18 million.
Despite these significant outflows, the 11 US spot Bitcoin ETFs have garnered a total of $15.30 billion in net inflows since their listing in January. This indicates strong investor interest in these products, despite the recent withdrawals.
The movement of funds has had an impact on the price of Bitcoin, which dropped by 1.48% in the last 24 hours to $66,250. As always, this is not investment advice, but those interested in investing in over 300 cryptocurrencies can do so with a 20% commission discount by registering with Binance exchange.
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