Bitcoin is experiencing significant market challenges, facing its worst month since the FTX collapse in November 2022, with a nearly 16% drop in value and the price falling below $60k. This downturn coincides with a reversal in inflows to U.S. Bitcoin ETFs, which recorded their first monthly outflows totaling $182 million. Notably, the spot Bitcoin ETFs saw $344 million in net withdrawals. Major funds like Grayscale's GBTC, Fidelity, Ark, and Blackrock reported substantial sell-offs, with GBTC selling 2,900 BTC, Fidelity 3,300 BTC, Ark 1,700 BTC, and Blackrock 600 BTC. As of the end of April, U.S. Bitcoin ETFs held a total of $51 billion in assets under management, marking a decrease from previous weeks, with Bitcoin under management declining by 13,441 BTC.
US spot-Bitcoin exchange-traded funds suffered their largest daily outflow as the digital token heads for its worst week since August 2023 https://t.co/WTLZQA2HeJ
Yesterday's ETF flows were extremely negative. We had $563.7 million of outflows. $GBTC had $167.4 million, Fidelity $191.1 million, Ark $98.1 million Blackrock had its first negative day with $36.9 million. After the price went down from $61k to $56k this isn't a surprise… https://t.co/cwBR8epxvF
🚨 #Bitcoin ETFs Update (May 1) Fidelity Sells 3,300 BTC GBTC Sells 2,900 BTC ARK Sells 1,700 BTC Blackrock Sells 600 BTC Total Net Flows from all ETFs -9,750 #Bitcoin ($564M) https://t.co/sRl6Jfz4JC
US #Bitcoin ETFs Continue to See Persistent Outflows https://t.co/IQOeKYTH43
Spot bitcoin ETFs saw $344 million net withdrawals in April as flow reversal continued https://t.co/ikUAciriaz
April is 2024's first month of net outflows from BTC investment vehicles, as BTC under management saw a monthly decline of 13,441 BTC. US Futures-based ETFs saw the largest net monthly outflows, equivalent to 9,952 BTC, while US spot ETFs saw net monthly outflows of 6,648 BTC. https://t.co/tNB46jXrLG
At the close on 30 April, US Bitcoin ETFs held $51bn in total AUM compared to US Gold ETFs at $102.8bn. US Bitcoin ETFs now stands at 49.6% of US Gold ETFs size, down 6.2% WoW. 📉 Five consecutive days of zero $IBIT inflow, while $GBTC outflow continues. #Bitcoin #GOLD #ETFs https://t.co/hRnyCDBFgJ
#Bitcoin plunged almost 16% in April, most since FTX collapse in Nov2022 as Crypto ETF flows are reversing w/Fed rate-cut hopes fade. https://t.co/amiRUd8AIC
OUCH! #Bitcoin tumbles <60k, faces worst month since FTX debacle. US Bitcoin ETFs have seen outflows of $182mln in April, 1st monthly outflows. https://t.co/UeVSlRTZJG
Flows into the newly issued spot Bitcoin ETFs began to slow in April. The incumbent fund, Grayscale's $GBTC continues to see daily outflows. https://t.co/EftJ2O9zbc
Bitcoin is registering its worst month since the collapse of Sam Bankman-Fried’s FTX empire as the euphoria around ETFs subsides https://t.co/u11tdkZJhD