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Bitcoin Spot ETFs Break 10-Day Inflow Streak with $358M Outflows
The spot Bitcoin ETF market’s fund inflow and outflow reports became the talk of the town today. This is because the spot BTC ETFs recorded $358.6 million net outflows yesterday. Even though this is not the first time spot Bitcoin ETFs recorded net outflows, this time hit different
The major reason $358.6M net outflows making it to the headlines ot because, it ended a 10-days-long streak of net inflows. Bitcoin spot ETFs received a record $4.26 billion in net inflows in the last 10 days. This record resulted in the cumulative total net inflow of $44.99 billion as of Thursday
As per SoSoValue report, total net assets in US spot Bitcoin ETFs are worth $128.13 billion. This represents an overall 6.07% share of the Bitcoin market cap. So far, over $5.39 billion worth of funds traded in crypto ETF products
BlackRock’s IBIT is the only ETF that recorded a net inflow of $125 million yesterday. All of the remaining spot Bitcoin ETF products witnessed net outflows
While Fidelity’s FBTC recorded the highest outflows of $166.32 million, Grayscale’s GBTC followed its lead with $107.53 million outflows. Ark and 21Share’s ARKB recorded net outflows of $89.22 million yesterday. Almost all other US spot Bitcoin ETFs, such as Bitwise, VanEck, Valkyrie, and Invesco have recorded outflows
Bitcoin Spot ETFs Recorded Largest Single-Day Outflows
Yesterday’s Bitcoin ETFs made another record. The $358.6 million in net outflows is the largest single-day net outflows recorded in the last couple of months
Meanwhile, the crypto market continues its usual volatility. Bitcoin price dropped 2.72% in the last 24 hours to the $105K price range, whereas Ether is trading at the $2,600 level. All other major altcoins are also in red. Solana dropped 5.39% as the market tumbled. Other altcoins XRP and Dogecoin dropped 4% and 9.15%, respectively
On the other hand, only few cryptocurrencies are recording agins today. DeXe’s native DEXE token is up a record 12.19% and UNUS SED LEO’s LEO is up 2.09%, and Lido DAO’s LDO token gained 1.80%
Highlighted Crypto News Today:
U.S. Treasury Slams Funnull Tech for Role in $200M Crypto Scam