$73 Million
Exodus:
BlackRock• Объект бренды » Бренды на b » Blackrock Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETF Suffers Record-
Breaking Outflow
$73 Million Exodus: BlackRock• Объект бренды » Бренды на b » Blackrock Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETF Suffers Record-Breaking Outflow
by Christian Encila
27 minutes ago
in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
0
A major player in the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта market found itself on an unusual side of
history after experiencing its largest outflows in months.
Related Reading: Fed Can’t Hold Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, No Plans Yet To Change Law, Powell
Says
The leading asset manager BlackRock• Объект бренды » Бренды на b » Blackrock ended the inflow streak of its Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
exchange-traded fund after recording a $72.7 million worth of outflow on
December 20.
Largest Outflow On Record
Data showed that BlackRock• Объект бренды » Бренды на b » Blackrock Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETF (IBIT) witnessed the largest outflow
since it was launched in January this year.
According to Farside Investors , the global asset manager’s Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETF posted
an outflow of 72.7 million in December, the highest on record for IBIT. They
added that this came a day after IBIT registered zero flows, making investors
anxious about the exchange-traded fund.
Source: Farside Investors
IBIT is not alone as fellow ETF issuer Fidelity Wise Origin Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Fund
(FBTC) also hit an all-time high outflow of $208.5 million on December 19, a
day before IBIT hit the same ordeal.
Analysts said that the following day, December 20, FBTC recorded another
outflow of about $71.9 million, making the EFT suffer a two-day outflow
streak.
IBIT and FBTC are among the top performing exchange-traded funds in the United
States• Соединённые Штаты Америки (США). The ETF issuers were ranked 1 and 2 among the top 25 ETFs in terms of
assets after one month in the market.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is currently trading at $95,436. Chart: TradingView
Market observers said that the US• Экономика » Финансы » Платежные средства » Доллар США Spot Bicoin ETF market’s record-high two
consecutive day outflow was fueled by the all-time high outflows experienced
by BlackRock• Объект бренды » Бренды на b » Blackrock and Fidelity.
Data showed that the ETF market lost $671.9 million on December 19 and another
$277 million in outflows the next day, December 20.
Some Investors Are Concerned
The massive outflows experienced by the two of the biggest ETF issuers in the
US• Экономика » Финансы » Платежные средства » Доллар США sparked concerns from crypto investors on what could be the outlook for the
ETFs in the upcoming months.
However, analysts believed that the ordeal faced by BlackRock• Объект бренды » Бренды на b » Blackrock and Fidelity
should not surprise traders since both international asset management firms
have largely accounted for the large inflows.
Some investors are concerned that recent development in ETFs might become a
turning point that could lead to substantive decrease in the institutional
investors’ appetite for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin exposure.
Market observers argued that outflows might not linger, adding that after
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin plummeted to $92,710 earlier, the alpha crypto has been bouncing back
and moving up again.
Related Reading: From Fame To Fallout: ‘Hawk Tuah Girl’ Faces Legal Heat After
90% Coin Plunge
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s Volume Down
Trading analysts said that Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s market volume dipped to $59.50 billion, a
52% decline in its total volume, contradicting the bullish run enjoyed by the
crypto after Donald Trump won the US• Экономика » Финансы » Платежные средства » Доллар США election last month.
During the crypto bull run, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin reached its all-time high of $108,000 per
coin in November.
In the same month, the US• Экономика » Финансы » Платежные средства » Доллар США spot Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETF also benefited from the crypto bull
market after hitting a record-high of $6.2 billion in net inflows.
As of press time, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is traded at $95,359 per coin, down by 1.3% in the
last 24 hours, with a total market capitalization of $1.9 trillion.
Featured image from CNN, chart from TradingView