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.
Author
CoinDesk Analysis Team
CoinDesk
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