BlackRock's Bitcoin ETF saw $403 million withdrawn in a single day!
But interestingly, Fidelity's BTC ETF saw a net inflow of $42.8 million on the same day.
On November 6, U.S. spot BTC ETFs saw a combined net outflow of $412 million, bringing this week's cumulative outflows to around $1.282 billion.
People used to say ETFs would bring a steady stream of buying pressure to BTC. Now it turns out this channel can also be used to pull money out.
But don't get the wrong idea: outflows from IBIT don't mean BlackRock itself is selling BTC.
This market action is pretty interesting: retail investors are still guessing where the bottom is, while ETF funds have been retreating for several days in a row.
If BTC rebounds but ETFs continue to see outflows, the sustainability of that rebound will be questionable.
#非农就业数据推升加息预期
But interestingly, Fidelity's BTC ETF saw a net inflow of $42.8 million on the same day.
On November 6, U.S. spot BTC ETFs saw a combined net outflow of $412 million, bringing this week's cumulative outflows to around $1.282 billion.
People used to say ETFs would bring a steady stream of buying pressure to BTC. Now it turns out this channel can also be used to pull money out.
But don't get the wrong idea: outflows from IBIT don't mean BlackRock itself is selling BTC.
This market action is pretty interesting: retail investors are still guessing where the bottom is, while ETF funds have been retreating for several days in a row.
If BTC rebounds but ETFs continue to see outflows, the sustainability of that rebound will be questionable.
#非农就业数据推升加息预期
