On Tuesday, Bitcoin experienced a 6% drop, bringing its price just above $59,000. This decline in price coincided with a challenging day for U.S. Bitcoin ETFs, which collectively recorded net outflows, halting the positive momentum seen earlier in the week.
According to the latest data from SoSoValue, the 11 Bitcoin ETFs together saw a net outflow of $127.05 million. This represents a sharp reversal from previous gains and adds to the uncertainty in the market.
ARK Invest’s ARKB fund was the hardest hit, with a massive $101.97 million flowing out. Grayscale’s GBTC fund also faced large outflows, losing $18.32 million. Bitwise saw $6.76 million leave its fund, further contributing to the day’s negative trend.
Interestingly, none of the ETFs recorded any inflows on Tuesday. Even BlackRock, which was the biggest gainer on Monday with a $224 million inflow, did not add any new Bitcoin to its funds. The same goes for Franklin Templeton’s EZBC, WisdomTree, Fidelity’s FBTC, VanEck, Grayscale’s BTC fund, Invesco’s BTCO, and Valkyrie, all of which recorded no action for the day.
As always, we’ll continue to keep a close eye on these developments and provide updates on the daily movements of Bitcoin ETFs here at HowToBuyBitcoin.org.