Approximately $1 billion in outflows were recorded from US spot Bitcoin (BTC) and Ethereum (ETH) ETFs in a single trading session. Continue Reading: $1 BillionApproximately $1 billion in outflows were recorded from US spot Bitcoin (BTC) and Ethereum (ETH) ETFs in a single trading session. Continue Reading: $1 Billion

$1 Billion Earthquake in Bitcoin (BTC) and Ethereum (ETH) ETFs After Sharp Drop! “The Worst Day!”

2 min read

Bitcoin (BTC) is still struggling to recover from the downward trend that began in October, and the latest sell-off has pushed it down to $81,000.

The recent decline in Bitcoin has opened the door to further corrections, and these sharp drops have also negatively impacted US spot ETFs.

With cryptocurrency prices falling and risk appetite decreasing, approximately $1 billion in outflows were seen from US spot Bitcoin and Ethereum ETFs in a single trading session.

According to SoSoValue data, US spot Bitcoin ETFs saw a net outflow of $817.8 million. This marks the third consecutive day of net outflows.

BlackRock’s IBIT fund led the way in Bitcoin ETF outflows with $317.8 million, followed by Fidelity’s FBTC fund with $168 million.

They were followed in exits by Grayscale’s GBTC fund with $119 million; Bitwise’s BITB fund with $88.9 million; Ark Invest’s ARKB fund with $71.6 million; Grayscale’s BTC fund with $37.2 million; Invesco’s BTCO fund with $8.4 million; and VanEck’s HODL fund with $6.5 million.

Wisdom Tree’s BTCW fund, Valkyre’s BRRR fund, and Franklin Templeton’s EZBC fund all recorded 0 flows.

Outflows Continue in Ethereum!

US spot Ethereum (ETH) ETFs followed a similar trend, recording a net outflow of $178 million.

According to SoSoValue data, US spot Ethereum ETFs recorded a total net outflow of $178 million on January 29, marking further outflows in a single day.

According to the data, Fidelity’s FETH fund led the exits with $59.2 million, followed by BlackRock’s ETHA fund with $54.9 million.

They were followed by Grayscale’s Mini ETH Trust fund with a $26.5 million outflow, Grayscale’s Ethereum Trust (ETHE) fund with a $13.1 million outflow, and Bitwise’s ETHW fund with a $2 million outflow.

Invesco’s QETH fund, 21Shares’ TETH fund, Franklin Templeton’s EZET fund, and VanEck’s ETHV fund showed no net flow.

According to experts, the simultaneous sell-off in Bitcoin and Ethereum ETFs indicates that institutional investors are reducing their cryptocurrency positions rather than rotating between assets.

*This is not investment advice.

Continue Reading: $1 Billion Earthquake in Bitcoin (BTC) and Ethereum (ETH) ETFs After Sharp Drop! “The Worst Day!”

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