Bitcoin spot ETFs saw another $299.8 million in outflows, marking their fifth consecutive trading day of losses.
Data for November 11 showed that BlackRock’s IBIT had net outflows of $269.7 million for the day, accounting for roughly 90% of the total outflows; Grayscale’s GBTC saw $39.1 million in outflows.
A small amount of contrarian inflows came from Morgan Stanley’s MSBT, with net inflows of about $9.9 million, but that was nowhere near enough to fill the gaps left by the two large funds.
The market had long viewed IBIT as the most stable entry point for capital. Now, it was the day’s largest capital outflow channel.
ETFs haven’t lost their purpose; it’s just that the flow of funds has gone from a one-way entry point to a two-way gate that allows money to flow both in and out on a large scale.
Nearly $300 million in outflows in one day isn’t the most dramatic part. The key point is that money has been flowing out for five consecutive days.
Prices are still hovering around $74,000, but institutional investors have already started heading for the exit.$BTC
Data for November 11 showed that BlackRock’s IBIT had net outflows of $269.7 million for the day, accounting for roughly 90% of the total outflows; Grayscale’s GBTC saw $39.1 million in outflows.
A small amount of contrarian inflows came from Morgan Stanley’s MSBT, with net inflows of about $9.9 million, but that was nowhere near enough to fill the gaps left by the two large funds.
The market had long viewed IBIT as the most stable entry point for capital. Now, it was the day’s largest capital outflow channel.
ETFs haven’t lost their purpose; it’s just that the flow of funds has gone from a one-way entry point to a two-way gate that allows money to flow both in and out on a large scale.
Nearly $300 million in outflows in one day isn’t the most dramatic part. The key point is that money has been flowing out for five consecutive days.
Prices are still hovering around $74,000, but institutional investors have already started heading for the exit.$BTC
