A new data platform for crypto insights has revealed that Bitcoin (BTC), an exchange-traded fund (ETF), saw the biggest net outflows on a single day since its launch in January.
Spot On Chain, a market intelligence firm, has posted a thread on social media platform X stating that Bitcoin ETFs saw hundreds of millions in outflows as the price of crypto king dropped below $100,000 on December 19.
Spot On Chain reports that Fidelity FBTC led in overall outflows, while BlackRock IBIT ETF remained flat. The 19th of December also marked the end of a 15-day streak in which Bitcoin ETFs had seen an increase.
The US BTC ETFs have just experienced the LARGEST net withdrawal since their launch: $671.9 Million. Fidelity FBTC was the largest outflow with a net of $208.5 million. BlackRock IBIT remained steady with a net of $0
It also marked the end to a 15-day streak of inflows for BTC ETFs, and an 18-day streak for ETH. BTC fell 4.22% in the last 24 hours, while ETH dropped 7.97%.
According to blockchain tracker SoSoValue other BTC ETFs which experienced notable outflows included Grayscale’s GBTC which saw $87.86 millions; ARK Invest ARK 21Shares ARKB which saw $108.35million; VanEck HODL which saw $10.91million and Invesco BTCO which saw $25.97million.
At the time of writing, the top crypto asset based on market capitalization is currently trading at $97.417. It peaked at around $108,000 on December 17th.
