Bitcoin ETFs Record $438m in Outflows as BTC Dips Below $93k

crypto.news · 2024-11-25T22:49:59+00:00

US spot Bitcoin ETFs saw significant outflows as Bitcoin's price dipped to below $93,000 and long liquidations ensued. The 12 ETFs saw $438.38m in outflows on 25 November, breaking a five-day streak of inflows, with Bitwise's BITB leading the outflows with $280.73m, followed by Grayscale's GBTC, Fidelity's FBTC and ARK and 21Shares' ARKB. Meanwhile, the nine spot Ethereum ETFs experienced a slowdown in inflows, recording just $2.83m compared to the previous day's $91.21m. Grayscale's ETHE saw the largest outflows.

crypto.news

2024-11-25 22:49:59

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Spot Bitcoin exchange-traded funds in the United States began the week with significant outflows as Bitcoin’s price fell below $93,000 amid a wave of long liquidations.

According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $438.38 million in outflows on Nov. 25, breaking a five-day streak of inflows. The previous week saw a record-high $3.38 billion in weekly inflows into these funds.

Bitwise’s BITB led the outflows on Monday, with $280.73 million leaving the fund. Grayscale’s GBTC, Fidelity’s FBTC, and ARK and 21Shares’ ARKB reported outflows of $158.24 million, $134.72 million, and $110.88 million, respectively.

More modest outflows were observed from Invesco’s BTCO, VanEck’s HODL, and Valkyrie’s BRRR, which recorded outflows of $10.89 million, $8.05 million, and $3.09 million, respectively.

BlackRock’s IBIT partially offset these outflows, leading with $267.79 million in inflows, marking the fourth consecutive day of inflows into the fund. Grayscale’s GBTC also reported inflows of $420,460, while the remaining three Bitcoin ETFs saw no activity for the day.

The significant outflows on Nov. 25 coincided with Bitcoin’s price drop of over 6%, falling from $98,850 to $92,775 during early Asian trading hours. The flagship cryptocurrency also faced over $116 million in long liquidations.

At press time, Bitcoin (BTC) was down 3.5%, trading at $94,646 per coin.

Ethereum ETFs See Slower Inflows

Meanwhile, the nine spot Ethereum ETFs experienced a significant slowdown in inflows, with only $2.83 million entering the funds on Nov. 25 compared to the $91.21 million recorded the previous trading day.

Bitwise’s ETHW led the inflows, reporting $8.75 million, followed by Fidelity’s FETH with $4.36 million. VanEck’s ETHV contributed $2.55 million in inflows.

Grayscale’s ETHE saw the largest outflows of the day, with $7.65 million exiting the fund. Grayscale Ethereum Mini Trust and 21Shares’ CETH also experienced outflows of $3.96 million and $1.22 million, respectively.

The remaining Ethereum ETFs remained neutral on the day.

At the time of writing, Ethereum (ETH) was up 1.3%, trading at $3,430.

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