Bitcoin ETFs Lose Over $635M In One Day Following Oil Price Spike

Bitcoin Magazine Bitcoin ETFs Lose Over $635M In One Day Following Oil Price Spike U.S. investors quickly reversed course on Thursday, cashing out over half a billion dollars from spot bitcoin exchange-traded funds as risk-off sentiment surfaced again. A total of $635.6 million left the funds on Thursday, data from Farside Investors shows. The redemptions put downward pressure on the price of bitcoin , which dropped under $81,000 at one point. The coin has since rebounded and was recently trading for nearly $81,669, down just 1% over a 24-hour period. BlackRock’s iShares Bitcoin Trust saw the biggest outflows, with investors cashing out over $254 million. Fidelity’s Wise Origin Bitcoin Fund followed, losing close to $218 million.

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