The 11 US-listed spot bitcoin exchange-traded funds (ETFs) collectively soaked up $869.86 million on Thursday, recording their second-highest outflow ever, according to data source SoSoValue.
Investors have withdrawn $2.64 billion over three weeks, signaling increasing caution and changing sentiment in the market.
Thursday’s outflow coincided with Bitcoin’s drop below the key $100,000 support level and heightened risk aversion on Wall Street. Ether ETFs also recorded an outflow of $259.72 million, the highest since October 13.
At the time of writing, bitcoin was trading near $97,500, down more than 5% in 24 hours and 11% on a monthly basis, according to data source CoinDesk.
