Bitcoin ETF Weekly Outflows Hit $82 mn

Bitcoin ETF Weekly Outflows Hit $82 mn

The Spot Bitcoin ETFs experienced a significant shift in investor sentiment and fund flows over the past week. On Monday, they recorded a massive outflow of $223.8 million, setting a new record for the largest outflow in Bitcoin ETF history.

On 9^th April , there was a smaller outflow trend with $18.6 million in total net outflows across various key funds.

However, on 10^th April , Bitcoin ETFs saw a resurgence in inflows, totaling $123.7 million collectively. GBTC outflows plunged to a low of $17.5 million, while BlackRock’s IBIT witnessed $33.3 million inflows.

Fidelity Wise Bitcoin ETF (FBTC) topped with a $76.3 million influx, signaling a potential shift in market sentiment.

On 11^th April , the Spot Bitcoin ETFs registered inflows of $91.3 million, but GBTC witnessed a staggering outflow of $124.9 million. Crypto analysts expressed optimism for Bitcoin’s future, with BitBoy Crypto predicting BTC would touch $100,000 in 2024.

(With inputs from Shikha Singh)

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