14 hour ago
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US Bitcoin ETFs See $1.1B Outflows Amid BTC Price Drop
The performance of US-based Bitcoin ETFs has reflected a predominantly bearish market sentiment, with significant capital outflows noted.
- BTC price dropped below the psychological $100,000 level due to selling pressure and poor ETF performance.
- On November 14, the US Bitcoin ETF market saw a net outflow of over $492.1 million, marking the third consecutive day of negative outflows.
- BlackRock’s iShares Bitcoin Trust (IBIT) led these outflows, losing $463.1 million.
- Grayscale Bitcoin Trust (GBTC) reported a $25.09 million outflow, while Fidelity Wise Origin Bitcoin Fund (FBTC) and WisdomTree Bitcoin Trust (BTCW) recorded outflows of $2.06 million and $6.03 million, respectively.
- Grayscale’s Bitcoin Mini Trust added $4.17 million, showing positive influx.
- The week's total net outflow for US Bitcoin ETFs exceeded $1.11 billion.
The decline in Bitcoin ETF performance coincides with BTC's price drop to around $95,500, reflecting a 7% decrease over the past week. An increase in Bitcoin ETF demand could potentially reverse this trend.
