Bitcoin · Federal Reserve (FED) · Donald Trump · Bitcoin Magazine
Bitcoin ETFs Shed $729 million in Two Days as Investors Reverse Course
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Investors have fast cashed out of bitcoin exchange-traded funds this week.
Key facts
- Investors had started the week by selling close to $90 million in shares but then bought nearly $119 million on Tuesday
- Bitcoin’s price recently stood at a little over $82,688, down more than 3% over a seven-day period
- Bitcoin’s price is 34% below the all-time high of $126,080 it touched in October
- Funds managed by BlackRock, Fidelity, Morgan Stanley, and ARK 21-Shares all experienced significant outflows on Wednesday and Thursday, according to data from Farside Investors
Summary
U.S. investors this week reversed course, cashing out $729 million from spot bitcoin exchange-traded funds, putting downward pressure on the leading cryptocurrency’s price. Funds managed by BlackRock, Fidelity, Morgan Stanley, and ARK 21-Shares all experienced significant outflows on Wednesday and Thursday, according to data from Farside Investors. Investors had started the week by selling close to $90 million in shares but then bought nearly $119 million on Tuesday. The rest of the week has seen outflows following news that the Federal Reserve may raise interest rates. U.S. President Trump also hinted that talks with Iran weren’t bearing fruit, a sign war in the Middle East could continue.