Bitcoin Magazine Bitcoin ETFs Lose Over $635M In One Day Following Oil Price Spike
U.S. investors quickly reversed course on Thursday, cashing out over half a billion dollars from spot bitcoin exchange-traded funds as risk-off sentiment surfaced again.
A total of $635.6 million left the funds on Thursday, data from Farside Investors shows. The redemptions put downward pressure on the price of bitcoin , which dropped under $81,000 at one point.
The coin has since rebounded and was recently trading for nearly $81,669, down just 1% over a 24-hour period.
BlackRock’s iShares Bitcoin Trust saw the biggest outflows, with investors cashing out over $254 million. Fidelity’s Wise Origin Bitcoin Fund followed, losing close to $218 million.
Over $109 million left the ARK 21Shares Bitcoin ETF; Morgan Stanley’s fund and Bitwise’s ETF lost nearly $30 million and over $27 million, respectively.
But the investment vehicles this week have this week received net positive investment of over $439 million.
Source: Bitcoin Magazine
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