Bitcoin (CRYPTO: BTC) exchange-traded funds (ETFs) experienced a substantial one-day reversal last week. Investors pulled out nearly $818 million as Bitcoin’s price plummeted to a nine-month low.
Data indicated that Bitcoin ETFs registered net daily outflows of $817.87 million on January 29. This pushed January into an overall negative zone. However, the cumulative net inflows since the inception of Bitcoin ETFs remained significant at $55.52 billion.
The largest product by assets, BlackRock’s iShares Bitcoin Trust (NYSE:BLK), led the day’s withdrawals with $317.81 million in net outflows. Other notable outflows were observed from Fidelity’s FBTC (NYSE:Full story available on Benzinga.com
Crypto Funds Bleed $1.80 Billion As Metals Rally Heats Up
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