Bitcoin ETFs See Major Outflows as BlackRock Fund Stays Strong

Bitcoin ETFs saw significant outflows on Thursday, totaling $143.3 million, based on data from Farside Investors.

The only bright spot among the various funds was BlackRock’s iShares Bitcoin Trust ETF (IBIT), which attracted $45.75 million in inflows.

However, this inflow couldn’t offset the larger losses from other Bitcoin ETFs. Fidelity’s Fidelity Wise Origin Bitcoin Fund (FBTC) faced the largest withdrawals, with over $75 million leaving the fund.

Additionally, the ARK 21Shares Bitcoin ETF (ARKB) saw substantial outflows, losing more than $60 million.

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Bitcoin’s price stood at $82,511 after experiencing a 7% drop over the past week. The overall market mood is also being influenced by broader economic factors, as the S&P 500 entered technical correction territory amidst ongoing global trade issues.

The Nasdaq-100 index also dropped nearly 2% on Thursday, further weighing down Bitcoin’s performance.

Alexander Stefanov