The Bitcoin ETFs market has seen its 12-day inflow streak come to an end with a significant outflow of $131.35 million in one day. This event marks a notable shift in market activity.
Bitcoin ETFs Experience Fund Outflows
On Monday, Bitcoin ETFs recorded a net outflow of $131.35 million. The largest outflow was from ARK Invest's fund with $77.46 million, followed by Grayscale with $36.75 million and Fidelity with $12.75 million.
Investors Lock in Profits Near All-Time Highs
According to Vincent Liu, Chief Investment Officer at Kronos Research, the recent outflows from ETFs reflect profit-taking near historical highs. He stated, "The recent ETF outflows reflect profit taking near the highs and measured institutional rebalancing to lock in gains."
Ethereum ETFs Continue Winning Streak
Contrary to the outflows in Bitcoin ETFs, Ethereum ETFs saw a net inflow of $296.59 million on Monday, bringing the total inflow to $7.78 billion. The current streak extends to 12 consecutive days.
In conclusion, while Bitcoin ETFs have experienced a significant outflow, Ethereum ETFs continue to grow in popularity among investors.
