Bitcoin ETFs experience $541 million outflow, marking the biggest single-day drop since May
On Monday, U.S. Bitcoin Spot ETFs saw a big shift, with $541 million flowing out—a record single-day drop since early May and the second-largest since these funds started trading back in January.
According to Rachael Lucas, a crypto analyst with BTCMarkets, “After last week’s rush of investments, it’s pretty normal for investors to take some profits and tweak their portfolios, especially with market uncertainty in the air.” Many people are taking a cautious stance with the upcoming U.S. election and growing geopolitical concerns on the horizon.
Altogether, the 12 Bitcoin Spot ETFs traded about $2.22 billion on Monday, a bit less than Friday’s $3.09 billion, bringing their total net inflows to $23.61 billion.