Bitcoin (BTC) and altcoins have experienced a major correction in the last 24 hours as uncertainty grows due to the US government shutdown being one of the longest in history and the Fed being unable to access important data.
Bitcoin fell below $97,000, while Ethereum (ETH) fell to $3,100.
This sharp decline was also reflected in ETFs, with Bitcoin and Ethereum ETFs experiencing significant outflows.
According to Farside Investors data, US spot Bitcoin ETFs experienced a total net outflow of $866.7 million.
This was the second-largest single-day outflow recorded since the launch of spot Bitcoin ETFs. Grayscale Mini Trust (BTC) alone saw $318.2 million in outflows.
According to Farside data, Grayscale Mini BTC led the outflows with $318.20 million, followed by BlackRock’s IBIT fund with $256.6 million.
They were followed by Fidelity’s FBTC fund with $119.9 million, Grayscale’s GBTC fund with $64.5 million, Bitwise’s BITB fund with $47 million, Invesco’s BTCO fund with $30.8 million, ARK Invest’s ARKB fund with $15.7 million, VanEck’s HODL fund with $8.3 million, and finally Franklin Templar’s EZBC fund with $5.7 million outflow.
Wisdom Tree’s BTCW and Valkyre’s BRRR funds recorded 0 inflows.
Ethereum ETFs Also Experienced Outflows!
Ethereum ETFs also experienced outflows. Spot Ethereum ETFs recorded a total net outflow of $259.6 million, according to data from Farside Investors.
According to the data, BlackRock’s ETHA fund led the outflows with $137.3 million, followed by Grayscale’s Ethereum Trust (ETHE) fund with $67.9 million and the Mini Ethereum Trust (ETH) fund with $35.8 million.
Fidelity’s FETH fund experienced small outflows of $14.2 million and Invesco’s QETH fund experienced small outflows of $4.4 million.
Bitwise’s ETHW fund, 21Shares’ TETH fund, Franklin Templeton’s EZET fund, and VanEck’s ETHV fund showed no net flows.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/bitcoin-and-ethereum-etfs-experience-record-highs-after-sharp-drops-second-biggest-outflow/
