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Bitcoin Price Plunge Sparks $601M ETF Exodus: Profit-Taking or De-Risking?


Sep, 05, 2024
< 1 min read
by CoinEdition
Bitcoin Price Plunge Sparks $601M ETF Exodus Profit-Taking or De-Risking
  • Bitcoin spot ETFs saw a significant net outflow of $601 million over the past week.
  • Major funds like BlackRock and Fidelity led with notable withdrawals, totaling 10,428 BTC.
  • The decline is partly attributed to Bitcoin’s recent price drop from $61,200 to around $55K and strategic profit-taking.

Bitcoin spot exchange-traded funds (ETFs) recorded a net outflow of $601 million over the past week, which could hint at a shift in investor sentiment. The reduction in holdings suggests increased caution among investors, likely driven by profit-taking and the ongoing bearish market.

Ten major Bitcoin ETFs saw a substantial outflow of 10,428 BTC, worth approximately $601 million, over the past seven days according to data from Lookonchain

The reduction in holdings was led by prominent funds such as the iShares (BlackRock) Bitcoin Trust (IBTC) and Fidelity Wise Origin Bitcoin Fund (FBTC), which experienced notable withdrawals of 228 BTC and 3,753 BTC, respectively. 

Funds like the ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) also reported substantial net outflows. In the last day alone, 5,514 BTC, worth $317.82 million, left the U.S. Bitcoin ET…

The post Bitcoin Price Plunge Sparks $601M ETF Exodus: Profit-Taking or De-Risking? appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Spot Bitcoin ETFs Record Highest Daily Inflow Since January

Spot Bitcoin ETFs Record Highest Daily Inflow Since January

U.S.-listed spot Bitcoin ETFs just had their best day in nearly three months. On Apri...
Apr, 22, 2025
2 min read
by TheNewsCrypto
Bitcoin ETFs Maintain Iron Grip; They Hold Nearly 90% of Global AUM

Bitcoin ETFs Maintain Iron Grip; They Hold Nearly 90% of Global AUM

Bitcoin ETFs continue asserting clear dominance in the crypto fund world, commanding ...
Apr, 22, 2025
< 1 min read
by CoinEdition
MainNewsBitcoin Pric...

Bitcoin Price Plunge Sparks $601M ETF Exodus: Profit-Taking or De-Risking?


Sep, 05, 2024
< 1 min read
by CoinEdition
Bitcoin Price Plunge Sparks $601M ETF Exodus Profit-Taking or De-Risking
  • Bitcoin spot ETFs saw a significant net outflow of $601 million over the past week.
  • Major funds like BlackRock and Fidelity led with notable withdrawals, totaling 10,428 BTC.
  • The decline is partly attributed to Bitcoin’s recent price drop from $61,200 to around $55K and strategic profit-taking.

Bitcoin spot exchange-traded funds (ETFs) recorded a net outflow of $601 million over the past week, which could hint at a shift in investor sentiment. The reduction in holdings suggests increased caution among investors, likely driven by profit-taking and the ongoing bearish market.

Ten major Bitcoin ETFs saw a substantial outflow of 10,428 BTC, worth approximately $601 million, over the past seven days according to data from Lookonchain

The reduction in holdings was led by prominent funds such as the iShares (BlackRock) Bitcoin Trust (IBTC) and Fidelity Wise Origin Bitcoin Fund (FBTC), which experienced notable withdrawals of 228 BTC and 3,753 BTC, respectively. 

Funds like the ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) also reported substantial net outflows. In the last day alone, 5,514 BTC, worth $317.82 million, left the U.S. Bitcoin ET…

The post Bitcoin Price Plunge Sparks $601M ETF Exodus: Profit-Taking or De-Risking? appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Spot Bitcoin ETFs Record Highest Daily Inflow Since January

Spot Bitcoin ETFs Record Highest Daily Inflow Since January

U.S.-listed spot Bitcoin ETFs just had their best day in nearly three months. On Apri...
Apr, 22, 2025
2 min read
by TheNewsCrypto
Bitcoin ETFs Maintain Iron Grip; They Hold Nearly 90% of Global AUM

Bitcoin ETFs Maintain Iron Grip; They Hold Nearly 90% of Global AUM

Bitcoin ETFs continue asserting clear dominance in the crypto fund world, commanding ...
Apr, 22, 2025
< 1 min read
by CoinEdition