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Bitcoin ETFs Experience Record Outflows as Market Slumps
In a tumultuous market environment, several Bitcoin (BTC) exchange-traded funds (ETFs) have seen massive outflows of cryptocurrency, with losses totaling $151.8 million. This significant outflow is a clear indication that investors are fleeing the market, seeking safer alternatives or taking profits.
According to recent data, BlackRock’s IBIT ETF has witnessed an extraordinary loss of 122 BTC over the past week alone, followed by Grayscale Bitcoin Trust’s substantial outflows of 743 BTC. Meanwhile, Ark Invest and VanEck have lost a staggering 260 BTC and 148 BTC respectively. On a more positive note, Fidelity, Valkyrie, and Franklin remained unaffected by these market fluctuations.
In contrast, Invesco Galaxy Bitcoin ETF bucked the trend with an influx of 86 BTC. This unusual inflow is likely a result of investors taking advantage of the current market conditions to buy into the asset at discounted prices.
It is crucial for investors to remember that every investment carries risk, and it’s essential to perform thorough research before making any decisions.
Source: https://u.today/bitcoin-etfs-hit-with-1518-million-in-outflows-as-market-bloodbath-continues
