According to data from Farside Investors, Fidelity’s FBTC experienced a significant setback, losing $106.4 million. The largest spot bitcoin fund by net asset value, BlackRock’s IBIT, bucked the trend. Recent monitoring data from Farside Investors revealed a significant net outflow of $226.2 million in the U.S spot Bitcoin ETF market yesterday, indicating a shift in investor sentiment. While most funds experienced withdrawals, BlackRock’s IBIT ETF was the only one that saw a net inflow of $18.2 million. This demonstrates that investors perceive different Bitcoin ETFs differently in a volatile market.
Fidelity’s FBTC suffered a major blow, with its second-largest single-day outflow of $106.4 million. Grayscale’s GBTC also saw $61.5 million leave the fund. Bitwise and VanEck funds each lost nearly $10 million, while Ark Invest and 21Shares’ ARKB saw $52.7 million exit their funds. Invesco and Galaxy Digital’s BTCO experienced smaller outflows of $2.7 million. Despite the overall trend, BlackRock’s IBIT fund attracted additional investments totaling $18.2 million.
Bitcoin’s price briefly rose above $68,000 on Thursday but has since dropped 3%, reaching $66,304. The cryptocurrency has displayed significant volatility this week, with the Federal Reserve’s decision to maintain interest rates at 5.25% to 5.50% impacting market performance.
Bitcoin is currently striving to stay above the 100-day exponential moving average to avoid triggering further declines, with $65,500 and $64,800 being crucial levels. At the time of writing, Bitcoin is trading at $67,016 according to data from CMC.
In other news, Andrew Tate’s DADDY and Iggy’s MOTHER are intensifying the Solana Memecoin Wars.
