Cryptocurrency market experienced a correction this week, with Bitcoin (BTC) recording a cumulative decline of over 5% and ending at $96,700 before the deadline. Ethereum (ETH) also dropped nearly 15%, reaching a price of $3,330. Major cryptocurrency exchange-traded funds (ETFs) have also interrupted their continuous inflow of funds amidst the ongoing market decline.
According to data compiled by SoSoValue, the US Bitcoin spot ETF recorded a net outflow of $680 million on Thursday, setting a new record for single-day net outflow and ending the trend of consecutive 15 trading days of net inflow.
The highest net outflow amount was from Fidelity’s FBTC fund, totaling approximately $209 million, setting a new record for single-day net outflow. Grayscale’s Bitcoin Mini Trust Fund (BTC) followed closely with an amount of approximately $189 million, also setting a new record for single-day net outflow. The largest iShares Bitcoin Trust Fund (IBIT) showed zero net fund flow.
Among these 12 Bitcoin ETFs, only WisdomTree’s BTCW fund recorded a net inflow on Thursday, amounting to $2.05 million.
In addition, the US Ethereum spot ETF recorded a net outflow of $60.47 million on Thursday, ending the trend of consecutive 18 trading days of net inflow. The highest net outflow amount was from Grayscale’s ETHE fund, totaling $58.13 million.
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