Crypto
Bitcoin ETFs Haemorrhage $450M as Prices Plummet
A sharp decline in Bitcoin prices on Tuesday led to significant outflows from US-listed Spot Bitcoin exchange-traded funds (ETFs). The funds saw a net $450.4 million outflow, with Fidelity's FBTC experiencing the largest loss of $214.8 million.
The BlackRock iShares Bitcoin Trust also suffered substantial losses, shedding $161.7 million. Grayscale's Bitcoin Trust ETF (GBTC), ARK 21Shares Bitcoin ETF (ARKB), and Bitwise Bitcoin ETF (BITB) each lost smaller amounts.
Bitcoin itself is trading at $75,700, down 2.5% over the last 24 hours, according to CoinMarketCap.