The 11 spot Bitcoin ETFs recorded no inflow for the first time in many months yesterday losing $415 million in the process.
The Bitcoin ETFs witnessed outflows in six out of the 11 funds with none of the funds recording an inflow for the day.
The total funds lost to outflows from the Bitcoin ETFs stand at $415.1 million the largest in the past five trading days.
Farside Investors UK revealed that Fidelity’s FBTC led the outflows for the day losing $154.6 million.
Fidelity’s FBTC was followed closely by Grayscale’s GBTC which saw $134.5 million leave the funds.
Blackrock’s IBIT, Grayscale’s BTC, and Bitwise BITB recorded outflows below $100 million losing $36.5 million, $31.7 million, and $31.4 million respectively.
The other Bitcoin ETF funds recorded no transactions for the day.
The outflows took the Cumulative Total Net Inflow of the 11 Bitcoin ETFs to $35.24 billion with a total value traded of $3.14 billion per data from Sosovalue.
Bitcoin Price Analysis
Bitcoin spent the Christmas holidays in the red zone against the popular notion of the Santa bull run pattern.
The Primary Crypto Asset at the moment is exchanging hands for $92,729 dropping by 0.9% in the last 24 hours while also dropping by 13% in the last 14 days.
Bitcoin has shed $16,000 in price since hitting its current all-time high in the second week of December.
Despite the drop, Bitcoin is expected to surge following Donald Trump’s inauguration on January 20.
The crypto asset made Grayscale’s investments list of top 20 crypto assets set to do well in Q1 2025.
