Mini Bitcoin

Bitcoin

Impact

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<p>Spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced notable outflows on Monday, with investors withdrawing nearly $438.4 million, which marked the end of a five-day streak of net inflows, during which the funds had attracted close to $3.4 billion.</p>
<h3 class="wp-block-heading" id="h-leading-the-outflows">Leading the Outflows</h3>
<p>Seven bitcoin ETFs recorded net outflows on Monday, with Bitwise’s BITB fund leading the pack at over $280 million in withdrawals, according to data from SoSoValue.</p>
<p>Grayscale’s GBTC followed with outflows totaling $158.2 million, while Fidelity’s FBTC saw $134.7 million in withdrawals.</p>
<p>Other funds, including Ark and 21Shares’ ARKB, logged $110.9 million in outflows. Invesco, Valkyrie, and VanEck also reported negative flows during the day.</p>
<h3 class="wp-block-heading" id="h-some-positive-momentum">Some Positive Momentum</h3>
<p>Despite the overall trend, two funds reported positive flows. BlackRock’s IBIT, the largest spot bitcoin ETF with $31.6 billion in cumulative inflows, attracted $267.8 million in net inflows. Grayscale’s Mini Bitcoin Trust saw a modest inflow of $420,460.</p>
<h3 class="wp-block-heading" id="h-broader-market-impact">Broader Market Impact</h3>
<p>The total trading volume for the 12 bitcoin ETFs reached $5.6 billion on Monday, slightly higher than the $5.4 billion recorded last Friday.</p>
<p>Cumulative net inflows stood at $30.4 billion, while the funds collectively hold $102.2 billion in assets under management, representing about 5.4% of bitcoin’s total market capitalization.</p>
<p>Meanwhile, bitcoin prices retreated after a recent rally that pushed the cryptocurrency near $100,000. On Monday, bitcoin dropped by 3.55% in the past 24 hours, trading around $94,515 at the time of reporting.</p>
<h3 class="wp-block-heading" id="h-ethereum-etfs-show-modest-activity">Ethereum ETFs Show Modest Activity</h3>
<p>In contrast to bitcoin funds, spot Ethereum ETFs recorded modest net inflows of $2.8 million on Monday. Funds from Bitwise, Fidelity, and VanEck saw positive flows, while 21Shares and two Grayscale ETFs reported outflows.</p>
<p>The total trading volume for Ethereum ETFs rose significantly, reaching $711.2 million, compared to $373.9 million last Friday. Cumulative inflows for the nine Ethereum ETFs stood at $109 million.</p>
<p>The significant outflows from bitcoin ETFs coincided with a 6% drop in bitcoin prices, falling to $92,775 at one point. This dip also triggered liquidations of over $116 million in long positions across the market.</p>
<p>As the market absorbs these developments, the divergence in flows between bitcoin and Ethereum ETFs highlights varying investor sentiment and market dynamics across the two leading cryptocurrencies. While bitcoin funds saw a sharp pullback, Ethereum ETFs managed to sustain some inflows at a modest scale.</p>
<p>The post <a href="https://www.unlock-bc.com/133254/bitcoin-etfs-outflows-bitcoin-dips-below-94k-ending-five-day-inflow-streak/" rel="noopener noreferrer nofollow">Bitcoin ETFs Face Outflows as Bitcoin Dips Below $94K, Ending Five-Day Inflow Streak</a> appeared first on <a href="https://www.unlock-bc.com" rel="noopener noreferrer nofollow">UNLOCK Blockchain</a>.</p>

Bitcoin ETFs Face Outflows as Bitcoin Dips Below $94K, Ending Five-Day Inflow Streak

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