Hong Kong Bitcoin and Ether ETFs Experience Significant Outflow in Single Day
Hong Kong Bitcoin and Ether ETFs suffer largest-ever outflow, totaling $32.7 million, amidst market volatility and post-halving price decline.
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Hong Kong Bitcoin and Ether ETFs suffer largest-ever outflow, totaling $32.7 million, amidst market volatility and post-halving price decline.
US Bitcoin ETFs saw record outflows, while Hong Kong's experienced significant inflows. Ethereum saw modest inflows, suggesting diversification.
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Record outflows hit US Bitcoin ETFs on Wednesday, totaling $563.7 million. Fidelity FBTC led with $191 million withdrawn, followed by Grayscale's GBTC with $167.3 million. ARKB, IBIT, and BITB also saw significant reductions. This reflects evolving investor sentiment amid regulatory uncertainties and market volatility.
US Bitcoin ETFs witness unprecedented outflows, led by BlackRock's IBIT with $36.6M. GBTC and FBTC see significant outflows. Despite Bitcoin's 10.7% weekly decline, ETFs operate smoothly. Traditional assets like gold also experience outflows.
Grayscale's BTC ETF sees record-low outflow, signaling stabilization. Genesis liquidation and high fees contribute to persistent outflows. BTC trading at $70,600, up 2.2%.
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GBTC outflows have put negative pressure on Bitcoin’s price and market, but are also affected by other factors, such as U.S. regulation, Bitcoin competitors, etc.
Bitcoin struggled to maintain $40,000 amid Grayscale's $700 million outflows. Challenges arose from GBTC's transition to a spot Bitcoin ETF, triggering significant BTC sales. Despite concerns, the market showed resilience, with uncertain future trajectories and growing interest at lower price levels.
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