19-Day Series for Bitcoin and Ethereum Ended: Pay Attention to Record Money Outflow! - Coin Bulletin

Bitcoin and Ethereum ETFs in the US reached the end of a 19-day streak with record-breaking outflows of billions of dollars.

In the US, spot Bitcoin exchange-traded funds (ETFs) recorded their largest daily outflow on Thursday. Withdrawals of approximately $680 million from these products ended a 15-day positive flow series.

Fidelity's FBTC was the ETF with the biggest outflow on Thursday, with a fund outflow of $208.6 million. According to SoSoValue data, $188.6 million was withdrawn from Grayscale's Bitcoin Mini Trust, while $108.4 million exited Ark and 21Shares's ARKB.

There was a withdrawal of $87.9 million from Grayscale's GBTC fund. Bitwise's BITB ETF encountered a withdrawal of $43.6 million, and significant withdrawals were also seen in the ETFs of VanEck and Valkyrie.

On the other hand, BlackRock's IBIT ETF, despite being the largest spot Bitcoin ETF in terms of net asset value, did not record any inflows on Thursday. WisdomTree's BTCW ETF was the only fund among the 12 ETFs to record positive inflows with a $2 million entry.

The total trading volume of the 12 spot Bitcoin ETF was reported to be 5.9 million dollars on Wednesday, and it increased to 6.3 billion dollars on Thursday.

Sharp Decline in Bitcoin and Ethereum

Following the hawkish comments of Fed Chairman Jerome Powell on Thursday, Bitcoin fell below $100,000 level. The world's largest cryptocurrency traded at $97,061 as of the time of writing this news, with a 4.2% decrease in the last 24 hours.

Ethereum, on the other hand, experienced an even sharper drop and traded at $3,380 with a loss of 7.9% in value.

The Block's GMCI 30 index, which measures the performance of the top 30 cryptocurrencies, decreased by 6.3% in the last 24 hours.

BTC0.72%
ETH3.18%
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