The 11 spot Bitcoin ETFs lost a staggering $568 million recording no inflows for the day.
This follows three days of successful inflows for the Bitcoin ETFs despite recording heavy outflows too.
This year has been a year of extremes for Bitcoin and Ethereum ETFs. On Jan 6, the Bitcoin ETFs pulled in $978 million recording no outflows for the day.
The reverse was the case yesterday as the ETFs recorded only outflows and not a single inflow.
The swing between Outflows and Inflows is also occurring in the Ethereum ETFs with the funds recording no inflows for two days.
Farside Investors UK revealed that Fidelity’s FBTC led the outflows for the day losing $258.7 million.
ARK 21 shares ARKB and Blackrock’s IBIT followed suit with outflows of $148.3 and $124.0 million respectively.
Bitwise BITB and Investco’s BTCO lost $11.3 million and $9.4 million while Grayscale’s GBTC and Franklin Templeton EZBC recorded $8.9 million and $8.2 million losses.
A total of 7 funds recorded outflows from the 11 Bitcoin ETFs with the rest recording no transaction.
Bitcoin Price Analysis
Bitcoin at the moment is exchanging hands for $93,316 dropping by 1.7% in the last 24 hours.
The general crypto market is retracing with the top 10 crypto assets all in the red zone at the time of this report. The crypto asset is down 13.6% from its all-time high.
Donald Trump’s inauguration is expected to bring more volatility in the crypto market.
