In recent days, there has been a temporary outflow from Bitcoin ETFs totaling $96 million. This is attributed to a market correction and Bitcoin's failure to maintain momentum above $105,000.
Total Withdrawal from Bitcoin ETFs
All twelve active Bitcoin ETFs recorded net outflows, indicating a temporary retreat from institutional investors. The primary factor was Bitcoin's failure to hold its price above $105,000, despite optimism surrounding US-China trade talks.
Key ETF Positions in the Market
Fidelity's FBTC saw a significant outflow of $91.39 million, marking the largest single-day capital movement among major Bitcoin ETFs. Similarly, Hashdex's DEFI ETF also experienced modest withdrawals totaling $4.75 million.
Market Impact on ETFs
Other notable ETFs, such as BlackRock's IBIT, Grayscale's GBTC, Ark & 21Shares' ARKB, and VanEck's HODL, reported zero net inflows, indicating a pause in fresh institutional buying. Despite the lack of inflows, most ETFs traded at slight premiums, except for DEFI, which was trading at a slight discount.
The outflows from Bitcoin ETFs highlight the current volatility in the crypto market and investor caution amid recent price fluctuations and economic factors.
