Bitcoin fell below $97,000, while Ethereum (ETH) fell to $3,100.
This sharp decline was also reflected in ETFs, with Bitcoin and Ethereum ETFs experiencing significant outflows.
According to Farside Investors data, US spot Bitcoin ETFs experienced a total net outflow of $866.7 million.
This was the second-largest single-day outflow recorded since the launch of spot Bitcoin ETFs. Grayscale Mini Trust (BTC) alone saw $318.2 million in outflows.
According to Farside data, Grayscale Mini BTC led the outflows with $318.20 million, followed by BlackRock’s IBIT fund with $256.6 million.
They were followed by Fidelity’s FBTC fund with $119.9 million, Grayscale’s GBTC fund with $64.5 million, Bitwise’s BITB fund with $47 million, Invesco’s BTCO fund with $30.8 million, ARK Invest’s ARKB fund with $15.7 million, VanEck’s HODL fund with $8.3 million, and finally Franklin Templar’s EZBC fund with $5.7 million outflow.
Wisdom Tree’s BTCW and Valkyre’s BRRR funds recorded 0 inflows.
Ethereum ETFs Also Experienced Outflows!
Ethereum ETFs also experienced outflows. Spot Ethereum ETFs recorded a total net outflow of $259.6 million, according to data from Farside Investors.
According to the data, BlackRock’s ETHA fund led the outflows with $137.3 million, followed by Grayscale’s Ethereum Trust (ETHE) fund with $67.9 million and the Mini Ethereum Trust (ETH) fund with $35.8 million.
Fidelity’s FETH fund experienced small outflows of $14.2 million and Invesco’s QETH fund experienced small outflows of $4.4 million.
Bitwise’s ETHW fund, 21Shares’ TETH fund, Franklin Templeton’s EZET fund, and VanEck’s ETHV fund showed no net flows.
*This is not investment advice.
Continue Reading: Bitcoin and Ethereum ETFs Experience Record Highs After Sharp Drops! “Second Biggest Outflow!”
