Crypto
Bitcoin ETFs Slump as Iran Tensions Weigh on Markets
Bitcoin ETFs had their first negative day in over a week on Thursday, posting $225.2 million in net outflows.
The funds had previously seen seven consecutive days of inflows, bringing in nearly $1 billion. The Category's first negative day since July 13 came as US stocks fell due to ongoing tensions with Iran.
BlackRock's IBIT was the main contributor to the losses, shedding $202.5 million. Other funds such as Fidelity's FBTC and Bitwise's BITB also posted smaller losses.
Morgan Stanley's MSBT was the only fund to see an increase, adding $5 million. The loss marked a slight reversal for Bitcoin ETFs after a strong week, with the funds closing roughly $274 million higher for the five sessions through Thursday.