New data from the Cryptocurrency Insights platform reveals that the Bitcoin (BTC) exchange-traded fund (ETF) has recorded its largest single-day net outflow since its launch in January.
Market intelligence firm Spot On Chain speaks out in a new thread on social media platform X say On December 19th, hundreds of millions of dollars worth of outflows were reportedly witnessed from Bitcoin ETFs as the price of the cryptocurrency king fell below $100,000.
According to Spot On Chain, the leading ETF in terms of overall outflows was Fidelity's FBTC, while BlackRock's IBIT ETF remained flat. December 19th marked the end of a 15-day streak of inflows into Bitcoin ETFs.
“The U.S. BTC ETF just experienced its largest net outflow since its inception, $671.9 million. Fidelity’s FBTC led the outflows with an all-time high of $208.5 million, while BlackRock’s IBIT stabilized at a net inflow of $0.
This also marked the end of the BTC ETF's 15-day inflow streak and the ETH ETF's 18-day inflow streak. Over the past 24 hours, BTC is down 4.22% and ETH is down 7.97%. ”
Other BTC ETFs that have witnessed notable outflows, according to blockchain tracker SoSoValue include Grayscale's GBTC recorded $87.86 million. ARK Invest's ARK 21Shares ARKB recorded $108.35 million. VanEck's HODL was $10.91 million and Invesco's BTCO was $25.97 million.
The top crypto asset by market capitalization is trading at $97,417 at the time of writing. It peaked at around $108,000 on December 17th.
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