Bitcoin (CRYPTO: BTC) ETFs posted $635.2 million in outflows Wednesday, but Thursday price action could nullify analysts’s warnings about a drop to $70,000.
Biggest Daily Outflow Since Late January
The fresh outflows mark the largest daily Bitcoin ETF withdrawal since January 29, when the funds posted about $818 million in losses.
Weekly outflows now stand at $841.2 million, putting ETFs on track for their first week of net losses after six consecutive weeks of gains totaling around $3.4 billion.
BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) led losses with roughly $285 million in outflows.
ARK 21Shares Bitcoin ETF (BATS:ARKB) and Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) followed with $177 million and $133.2 million respectively.
Additionally, Morgan Stanley’s Bitcoin Trust ETF (NASDAQ:MSBT) posted …
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