Bitcoin spot ETFs see $869M outflow, second-largest on record
|What to know
- U.S.-listed spot bitcoin ETFs saw massive outflows Thursday as the spot price fell below $100,000.
- These funds have collectively witnessed an outflow of $2.6 billion in three weeks.
The 11 U.S.-listed spot bitcoin exchange-traded funds (ETFs) collectively bled $869.86 million Thursday, registering their second-highest outflow on record, according to data source SoSoValue.
Investors have pulled out $2.64 billion over three weeks, signaling growing caution and shifting sentiment in the market.
Thursday’s outflow coincided with Bitcoin’s fall below the key $100,000 support level and heightened risk aversion on Wall Street. Ether ETFs also registered an outflow of $259.72 million, the highest since Oct. 13.
As of writing, bitcoin traded near $97,500, down over 5% in 24 hours and 11% on a month-to-date basis, according to data source CoinDesk.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.