Bitcoin Exodus! BTC Spot ETF loses $3.2 billion in 8 days, panic in the market?
Exchange-traded funds (ETFs) of #bitcoin in the U.S. have experienced massive net outflows in recent days, reaching $3.2 billion over eight consecutive days. This streak of outflows, the longest since the launch of the ETFs, coincides with a broader liquidation in cryptocurrency and stock markets.
The ETFs of #BTC have recorded only four days of net inflows so far this month, resulting in a monthly net outflow of $3.65 billion, according to data from SoSoValue. An eight-day outflow streak that matches the August 2024 streak as the longest since the creation of Bitcoin funds.
On Tuesday, the #etfbtc Spot reported a record amount of net outflows of $1.14 billion.
The IBIT of #blackRock , the largest bitcoin ETF by net assets, recorded its largest net outflow in history, amounting to $418 million, the following day.
However, the latest net outflows of $275.8 million on Thursday were relatively moderate compared to the outflows of previous days. IBIT led the net outflows yesterday with $189 million.
BITB from Bitwise was the only fund to report net inflows, amounting to $17.6 million.
With the latest outflows, the total accumulated net inflows of the 12 bitcoin funds amount to $36.85 billion, representing the lowest level since January 14. The ETFs have $94.3 billion in net assets, which is about 5.7% of bitcoin's market capitalization.