The operation of spot ETFs involves managers buying and holding bitcoin to back the shares they issue
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Wall Street withdraws USD 900 million in bitcoin, accelerating the collapse
Spot bitcoin ETFs had the second largest daily capital outflow in their history. They have triggered the decline of bitcoin in the market. These ETFs directly impact the price of the underlying asset.
The spot bitcoin (BTC) exchange-traded funds (ETFs) operating on Wall Street recorded a capital outflow of 900 million dollars yesterday, November 20.
This massive movement of investors constitutes the second largest daily capital outflow since the launch of these investment products in January 2024, exerting significant downward pressure on bitcoin.
The capital exodus was led by the iShares Bitcoin Trust (IBIT), managed by BlackRock, with redemptions reaching 355 million dollars. It was followed by the Grayscale Bitcoin Trust (GBTC), which reported outflows of 199 million dollars.
Other funds that contributed to the capital withdrawal were managed by firms such as Fidelity, VanEck, Bitwise, and Ark Invest.
$BTC
{spot}(BTCUSDT)
$BNB
{spot}(BNBUSDT)
Wall Street withdraws USD 900 million in bitcoin, accelerating the collapse
Spot bitcoin ETFs had the second largest daily capital outflow in their history. They have triggered the decline of bitcoin in the market. These ETFs directly impact the price of the underlying asset.
The spot bitcoin (BTC) exchange-traded funds (ETFs) operating on Wall Street recorded a capital outflow of 900 million dollars yesterday, November 20.
This massive movement of investors constitutes the second largest daily capital outflow since the launch of these investment products in January 2024, exerting significant downward pressure on bitcoin.
The capital exodus was led by the iShares Bitcoin Trust (IBIT), managed by BlackRock, with redemptions reaching 355 million dollars. It was followed by the Grayscale Bitcoin Trust (GBTC), which reported outflows of 199 million dollars.
Other funds that contributed to the capital withdrawal were managed by firms such as Fidelity, VanEck, Bitwise, and Ark Invest.
$BTC
{spot}(BTCUSDT)
$BNB
{spot}(BNBUSDT)
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