BlackRock’s Bitcoin ETF Bleeds Over $500 Million In Its Biggest One-Day Outflow
Nearly two years after the inception of the Bitcoin ETF sector in the United States, these funds are currently grappling with significant challenges, exacerbated by mounting concerns regarding a potential bear market in the coming months. This turmoil is exemplified by the BlackRock iShares Bitcoin Trust ETF (IBIT), which experienced its largest single-day withdrawal since launch, further contributing to the decline in Bitcoin’s price. Profit-Taking And Caution The recent outflows from BlackRock’s Bitcoin ETF highlight the severity of the current selloff within the Bitcoin market,....
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Bitcoin-focused ETFs recorded their largest single-day outflow since August, pulling a combined $558 million from the market as prices hovered near $102,000. Data from SoSoValue shows the move pushed some big funds into the red for the day and sent fresh signals that traders are rebalancing after recent gains. Related Reading: Get Ready — The End Of November Will Be Massive For XRP, CEO Says Fidelity And Ark Lead Outflows Fidelity’s FBTC saw the biggest withdrawal at $256 million. Ark Invest And 21Shares’ ARKB followed with $144 million in redemptions, a record relative to that fund’s....
The spot Bitcoin ETFs (exchange-traded funds) in the United States have recorded their first net outflow day in the past seven days. This negative single-day performance ended what was another impressive weekly outing for the crypto investment products. Bitcoin ETFs Shine While Ethereum ETFs Continue To Struggle After a strong performance throughout the month of October, the US-based spot Bitcoin ETFs didn’t register a perfect start to November. According to data from SoSoValue, the BTC exchange-traded funds posted a net outflow of $54.9 million on Friday, November 1. Breaking down....
A look at what increasing capital outflow from China suggests about bitcoin adoption, and what implications a Chinese slowdown might have for the bitcoin price going forward. At the end of last month, we learnt that Chinese capital outflows during 2015 totaled $676 billion net. The data marks only the third net capital outflow since the turn of the millennium, and by far the biggest, with the other two coming in at less than $140 million net (2012,2014). The outflow comes against a backdrop of wider economic weakness in China and emerging markets, and quantifiably highlights China’s....
At Bitwise’s Bitcoin Standard Corporations Investors Day, MicroStrategy executive chairman Michael Saylor set an audacious marker for the entire exchange-traded fund landscape, declaring that BlackRock’s iShares Bitcoin Trust (ticker: IBIT) will become “the biggest ETF in the world in ten years.” The remark instantly rippled through the ETF community, where practitioners are well-aware that the […]
On-chain data shows Ethereum has observed a large exchange outflow recently, a sign that buying may be going on in the market. Ethereum Exchange Supply Hits Lowest In 5.5 Years After $181 Million Outflow According to data from the on-chain analytics firm Santiment, ETH has just witnessed its largest exchange outflow day since August 21st. […]