Bitcoin ETFs recorded an unprecedented day of capital flight, as investors withdrew $251 million from the 11 funds.
The 11 Bitcoin ETFs recorded no single inflow for the day, continuing a recurring trend of outflows with little to zero inflows.
A day before yesterday, The Bitcoin ETFs recorded a single inflow courtesy of Blackrock’s IBIT.
Yesterday, things drifted to the extreme with BlackRock’s IBIT joining the outflow parade.
Alongside the outflow, the Bitcoin ETFs recorded improved investor activity, with seven out of eleven ETF funds recording transactions.
Farside Investors UK revealed that Fidelity’s FBTC led the outflows, losing $102 million, with Ark ARKB following closely with a $97 million loss.
Bitwise BITB and Blackrock’s IBIT recorded outflows of less than $50 million. Both funds lost $25.9 million and $22 million, respectively.
Investco’s BTCO and Grayscale’s GBTC recorded $9.7 million and $6.9 million outflows respectively.
Valkyrie BRR recorded the least outflows for the day losing $3.7 million for the day.
The remaining Bitcoin Exchange Traded Funds recorded no Transactions.
Bitcoin Recovers Slightly from Slump, hits $96,000
Bitcoin, the Primary crypto asset, recovered slightly from a slump that saw the asset hit $94,000 for the first time in a week.
At the time of the report, Bitcoin is exchanging hands for $96,019 surging by 0.3% in the last 24 hours.
The crypto asset is currently 11.8% down from its all-time high and has failed to cross the $100,000 mark for a week now.
The Slump started in the second week of the month following a general market correction. It was caused by geopolitical powers locked in tariff wars, which created uncertainty in the markets.
The tensions have eased up a little at the moment, hence the correction.
