On Thursday, Cathie Wood's ARK Invest fully divested its holdings in the ProShares Bitcoin Strategy ETF (BITO), marking a significant move in the cryptocurrency investment landscape. This divestment coincides with a broader trend of substantial outflows from Bitcoin ETFs, which saw $218 million withdrawn on Friday, marking one of the worst outflow days for Bitcoin ETFs. Despite these outflows, the price of Bitcoin has maintained stability, holding firmly above $64,000. Notably, Fidelity's Bitcoin ETF experienced its first-ever outflow on Thursday, with $22.6 million leaving the fund.
Yesterday's ETF flows by @FarsideUK were negative once again, with $83.6 million of outflows. $GBTC had $82.4 million of outflows. Fidelity did $2.8 million of outflows, Bitwise $3.8 million. Blackrock holding at 0 for 3rd day in a row. Price dumped after hours because of DTC… https://t.co/ocUF6zUroH
Regulators are cracking the whip on crypto, and the spot BTC ETF flows appear to have reached a top, but Bitcoin price is holding steady. @noshitcoins explains why. https://t.co/yLc56F5lBp
Investors pulled $218 million out of Bitcoin ETFs yesterday in the wake of weak U.S. economic news. https://t.co/kF7k9cwlUq
- maybe a 20% chance BTC drops to $52k - Inflation is the boogie man, war, Yen is breaking, etc - fiscal spending is only going in one direction - alts have already dropped 50%+ in many cases and have retested supports - ETF flows are shit, but BTC is absorbing it well, and they… https://t.co/yT0vGOOOyt
Bitcoin ETFs Bleed Badly as Skittish Investors Cash Out $218 Million ► https://t.co/UFa1XdDANE https://t.co/UFa1XdDANE
NEW: Fidelity's #Bitcoin ETF $FBTC had its first ever outflow on Thursday, with 💵 $22.6M leaving the fund. https://t.co/WU0zKBLL76
Rough day across the board for the Cointucky derby and the #Bitcoin ETFs yesterday. 5 ETFs saw outflows for a total of -$217 million. Franklin was only ETF with an inflow at $1.9 million. https://t.co/9NF9iXi2GN
Yesterday we saw $200m of Bitcoin ETF outflows yet Bitcoin price went up. The correlation between these 2 things is weakening considerably. Outflows still mostly coming from Grayscale. I still think the alts continue to bleed into Bitcoin dominance while overall market cools off.
Bitcoin held above $64,000 on Friday while ETF outflows picked up, and Cathie Wood’s ARK Invest offloaded the last of its shares in BITO. @LedesmaLyllah and @godbole17 report in First Mover Americas. https://t.co/dU7DumiHaw
NEW: #Bitcoin ETFs see their 4th worst day of outflows, yet #Bitcoin price stands firmly above $64K 👀 https://t.co/feai4aYKX9
JUST IN: @ARKINVEST SELLS VERY LAST HOLDINGS OF PROSHARES #BITCOIN FUTURES ETF
Bad day for Bitcoin, net $218M withdrawn from ETFs
.@ArkInvest offloaded the last of its shares in ProShares Bitcoin Strategy ETF ($BITO) on Thursday. By @JamieCrawleyCD https://t.co/2Fmu4Z2ri4