Bitcoin ETFs recorded the largest single-day outflow ever, amounting to $937.9 million, highlighting increased market volatility.
Key Highlights of the Outflow
Fidelity's FBTC faced its largest-ever outflow of $344.7 million. BlackRock's IBIT also saw significant outflows, marking its fifth-largest outflow at $88.3 million.
Overall ETF Outflow Overview
The total outflow from Bitcoin-related ETFs stands at $937.9 million, marking the largest single-day outflow. Additionally, Ethereum-related funds saw a $50.1 million outflow. These figures do not include 21 Shares' ARKB data, which may add to the overall outflows.
Impact of Major Outflows on the Market
Such significant withdrawals indicate high market volatility, underlined by Bitcoin's drop below $90K for the first time in 3.5 months.
Major outflows from ETFs underscore the market's instability, highlighting the importance of closely monitoring funds and their shifting positions.
