U.S. spot Bitcoin ETFs witnessed a significant exodus of funds, with $287.8 million withdrawn across the listed ETFs yesterday, marking the largest single-day outflow since May 1, Farside Investors data reveals. Arkham data shows BlackRock as the sole ETF which did not see any withdrawals.
Fidelity’s ETF led the withdrawals, selling $162 million worth of Bitcoin. Grayscale followed with $50 million in outflows, while Ark and Bitwise reported $34 million and $25 million, respectively. These ETFs manage assets worth around $50 billion, despite these significant outflows.
Bitcoin’s price rose dramatically in the first half of this year, thanks to all the excitement and interest generated by these ETFs. It started at $44,000 around 2024 and reached a record high of $73,770 March 14th. Since then, however, it is still hovering around its $55,000 to $60,000 peak. Bitcoin’s all-time peak was reached 174 days ago. according Clark Moody Dashboard
In spite of recent outflows from spot Bitcoin ETFs, they have maintained strong inflows with just one outflow month in the last eight months. It shows that Bitcoin is still a popular investment, even though the price has stabilized below its high.
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Source: bitcoinmagazine.com
