A new data platform for crypto insights has revealed that Bitcoin exchange-traded fund (ETF) experienced the biggest net outflow in a single day since their launch in January.
Spot On Chain, a market intelligence company, has posted a thread in the social media network X stating that Bitcoin ETFs saw hundreds of millions dollars of withdrawals as of December 19, when the price of crypto king fell below $100,000.
Spot On Chain reports that Fidelity’s FBTC led in overall outflows, while BlackRock’s IBIT ETF remained flat. The 19th of December also marked an end to a 15 day inflow streak by Bitcoin ETFs.
The US BTC ETFs have just seen their largest net outflows since launch, $671.9 Million. Fidelity FBTC was the largest outflow with a net of $208.5m, BlackRock IBIT remained steady at $0 with a zero-net flow.
In addition, this marked the end to a streak of 15 days for BTC and 18 for ETH. BTC fell 4.22% and ETH dropped 7.97 %.” in the past 24 hours.
SoSoValue reports that other BTC-related ETFs have seen notable outflows, including Grayscale’s GBTC (which saw $87.86m), ARK Invest ARK 21Shares ARKB ($108.35m), VanEck’s HODL (10.91m), and Invesco BTCO (25.97m).
At the time this article was written, the top cryptocurrency asset by market capitalization is currently trading at $97.417. It peaked around $108,000 on December 17.
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The post Bitcoin ETFs records largest net outflows in one day since launch as $671,900,000. Yanked out Amid BTC Drop may be updated as new developments unfold.
