Bitcoin ETFs see $438M outflows, led by BITB at $280M, ending 5-day inflow streak.
Ethereum ETFs post $2.8M inflows, contrasting Bitcoin’s trend amid steady trading volumes.
Last week saw record $3.13B inflows, but European markets faced $141M outflows.
Bitcoin ETFs saw significant outflows on Monday, ending a five-day inflow streak. This shift in the crypto market saw total outflows of approximately $438.4 million, suggesting a change in investor sentiment towards Bitcoin as a long-term investment.
Bitwise’s BITB had the largest outflows on Monday, losing over $280.7 million in investor funds. Grayscale’s GBTC followed with outflows of $158.2 million.
Fidelity’s FBTC also had withdrawals of $134.7 million, while Ark’s ARKB and 21Shares had combined outflows of $110.9 million.
Invesco, Valkyrie, and VanEck spot Bitcoin ETFs also had outflows, adding to the day’s negative trend.
However, a few ETFs went against the trend. BlackRock’s IBIT, the largest spot Bitcoin ETF with $31.6 billion in cumulative inflows, had a net inflow of $267.8 million on Monday. Grayscale’s Mini Bitcoin Trust also had an inflow of $420,460, which sho…
The post $438M Bitcoin ETF Outflows Reflect Investor Shift Toward Ethereum appeared first on Coin Edition.
