The outflow of funds from Bitcoin ETFs per day amounted to a record $564 million
Crypto investors withdrew a record $564 million from Bitcoin ETFs over the course of 24 hours on May 1. This is the largest outflow of funds from exchange-traded funds of this type since their launch in January 2024, Bloomberg noted.
The largest outflow of funds in the amount of $191 million was recorded from the Fidelity Digital Assets fund; investors withdrew another $167 million from the Grayscale Bitcoin Trust.
It is noteworthy that for the first time since the launch of the Bitcoin ETF, the withdrawal of funds began from the BlackRock fund - it lost $36.9 million. Also, during the week from April 24 to April 30, the fund did not receive new funds from investors in the Bitcoin ETF.
By May 1, 2024, spot exchange-traded funds managed 829 thousand bitcoins (4.1% of all bitcoins traded on the market) worth $47 billion.
According to trading data, Bitcoin has fallen in price by 15.3% over the past month. The first cryptocurrency reached a record value in March 2024, when it traded at $73.1 thousand.
As they say: We buy $BTC $ETH $RVN and rejoice in September!
