Data from Farside Investors shows that Fidelity’s FBTC suffered a major blow, $106.4M.
The biggest spot bitcoin fund by net asset value, BlackRock’s IBIT, defied the trend.
A large net outflow of $226.2 million was seen in yesterday’s U.S spot Bitcoin ETF market, according to recent monitoring data from Farside Investors. Investor mood has changed, as seen by this substantial swing.
Although the majority of funds saw withdrawals, BlackRock’s IBIT ETF was the only one that managed to draw in additional capital, with a net inflow of $18.2 million. This change exemplifies how investors see various Bitcoin ETFs, revealing that not all funds are seen in the same manner in a market that is so unpredictable.
Data from Farside Investors shows that Fidelity’s FBTC suffered a major blow, with its second-largest single-day outflow since its start, with a value of an astounding $106.4 million. A total of $61.5 million left Grayscale’s GBTC fund as well.
Not only did Bitwise and VanEck funds lose almost $10 million apiece, but Ark Invest and 21Shares’ ARKB also saw $52.7 million leave their funds. Invesco and Galaxy Digital’s BTCO both saw smaller outflows of $2.7 million. The biggest spot bitcoin fund by net asset value, BlackRock’s IBIT, defied the trend. In reality, it attracted additional investments totaling $18.2 million.
Bitcoin Price Struggles
After briefly recovering above $68,000 on Thursday, Bitcoin’s (BTC) price dropped 3% lately, reaching $66,304. The cryptocurrency has shown considerable volatility this week. The Federal Reserve’s decision to keep interest rates at 5.25% to 5.50% has cast a shadow on Bitcoin’s market performance, leading to this decline.
Bitcoin is attempting to maintain a position above the 100-day exponential moving average. If it falls below this, it can trigger more drops; $65,500 and $64,800 are critical levels. At the time of writing, Bitcoin is trading at $67,016 as per data from CMC.
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