This outflow shows a lot of uncertainty in the market. Be cautious.
Bitcoin ETFs lose $300 million during broader crypto sell-off
On Wednesday, U.S. Spot bitcoin ETFs experienced a big drop, losing around $300 million. The bulk of this amount, nearly $270 million, was attributed to withdrawals from BlackRock's IBIT. Grayscale's GBTC also faced a loss of about $39 million, while Morgan Stanley's MSBT was the sole fund to see positive inflows, gaining approximately $9 million.
The outflows didn't stop with bitcoin. Ether ETFs lost about $145 million, alongside losses in other funds including nearly $15 million from ZEC and about $6 million from SOL funds. Around $465 million left U.S. Spot crypto ETFs in just one day, indicating a widespread sell-off.
This situation adds pressure to investors who are already feeling the heat, as Bitcoin's recent trading price of around $75,000 is a lot below the estimated average of $81,500 that buyers paid last month. The cumulative net inflows into U.S. Spot bitcoin ETFs still stand at about $55 billion since their launch in January 2024, but the recent withdrawals show the current market sentiment and potential challenges ahead for traders.
$BTC
#ETF #CryptoNews
Bitcoin ETFs lose $300 million during broader crypto sell-off
On Wednesday, U.S. Spot bitcoin ETFs experienced a big drop, losing around $300 million. The bulk of this amount, nearly $270 million, was attributed to withdrawals from BlackRock's IBIT. Grayscale's GBTC also faced a loss of about $39 million, while Morgan Stanley's MSBT was the sole fund to see positive inflows, gaining approximately $9 million.
The outflows didn't stop with bitcoin. Ether ETFs lost about $145 million, alongside losses in other funds including nearly $15 million from ZEC and about $6 million from SOL funds. Around $465 million left U.S. Spot crypto ETFs in just one day, indicating a widespread sell-off.
This situation adds pressure to investors who are already feeling the heat, as Bitcoin's recent trading price of around $75,000 is a lot below the estimated average of $81,500 that buyers paid last month. The cumulative net inflows into U.S. Spot bitcoin ETFs still stand at about $55 billion since their launch in January 2024, but the recent withdrawals show the current market sentiment and potential challenges ahead for traders.
$BTC
#ETF #CryptoNews
