Fund outflow from Bitcoin ETFs per day amounted to a record $564 million. The largest outflow of funds of $191 million was recorded in the Fidelity Digital Assets fund. Additionally, investors for the first time began withdrawing funds from the BlackRock fund, a leading player in the Bitcoin ETF market.
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Cryptocurrency investors withdrew a record $564 million from Bitcoin ETFs in 24 hours on May 1. This is the largest ETF outflow of its kind since its launch in January 2024, Bloomberg noted.
The largest outflow of funds, worth $191 million, was recorded in the Fidelity Digital Assets fund; Investors withdrew another $167 million from the Grayscale Bitcoin Trust.
It is worth noting that for the first time since the launch of the Bitcoin ETF, the BlackRock fund began to withdraw funds: it lost $36.9 million. Additionally, during the week of April 24-30, the fund received no new funds. of investors in the Bitcoin ETF.
As of May 1, 2024, exchange-traded funds managed 829,000 bitcoins (4.1% of all bitcoins traded on the market) worth $47 billion.
According to trading data, the price of Bitcoin has fallen by 15.3% over the past month. The first cryptocurrency reached a record value in March 2024, when it was quoted at $73.1 thousand.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
