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US spot Bitcoin ETFs see largest-ever daily outflow of $938M
Bitcoin ETFs in the US have seen more than $2.4 billion in net outflows over February as
Bitcoin struggles to maintain a price rally.
US spot Bitcoin exchange-traded funds (ETFs) have seen their largest-ever daily net outflows as Bitcoin continues to trade below $90,000.
The Fidelity Wise Origin Bitcoin Fund (FBTC) led the day’s losses with $344.7 million in outflows — a new record outflow for the ETF. BlackRock’s iShares Bitcoin Trust (IBIT) was runner-up with an outflow of $164.4 million.
The Bitwise Bitcoin ETF (BITB) lost $88.3 million, while Grayscale’s two funds net lost $151.9 million, split between $66.1 million from its Grayscale Bitcoin Trust (GBTC) and $85.8 million from its Bitcoin Mini Trust ETF (BTC).
Around $2.4 billion has exited the 11 ETFs so far this month, which has seen just four days of net inflows. #BTC #ETH #GT #MAGA