Bitcoin ETF

Galaxy

Bitcoin

Grayscale Bitcoin Trust

Spot

United States spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) exchange-traded funds (ETFs) have now marked their third straight day of total net outflows, with $261.5 million leaving the 10 approved funds on March 20.
It brings three-day net outflows to $742 million as March 18 and 19 saw respective net outflows of $154.3 million and $326.2 million, per Farside Investors <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener nofollow">data</a>.
The outflow was due mainly to another solid day of outflow from the Grayscale Bitcoin Trust (GBTC), which bled $386.6 million, while Invesco Galaxy Bitcoin ETF (BTCO) also saw $10.2 million exit the fund. Both came to eclipse the trickle of inflows from the eight other approved ETFs. 
BlackRock’s iShares Bitcoin Trust (IBIT) had its second-lowest-ever net inflow day at $49.3 million — just $4 million more than its daily low of Feb. 6, and the Fidelity Wise Origin Bitcoin Fund (FBTC) similarly had a runner-up low inflow day at $12.9 million.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/514f13d7-00be-400a-b31a-14333f5d8417.png" alt="" title="">
 <figcaption style="text-align: center;">
 Flows for all 10 U.S. spot Bitcoin ETFs, green row highlights March 20. Source: Farside Investors
 </figcaption>
</figure>
It’s the second-highest net outflow day for the 10 ETFs, beaten only by <a href="https://cointelegraph.com/news/biggest-bitcoin-etf-outflow-day-grayscale-btc-supply-july">$326.2 million that left the funds </a>on March 19.
Related: <a href="https://cointelegraph.com/news/bitcoin-bull-cycle-is-far-from-over-thanks-to-the-halving-cryptoquant-research">Bitcoin bull cycle is ‘far from over’ thanks to the halving — CryptoQuant research</a>
Meanwhile, Bitcoin <a href="https://cointelegraph.com/news/bitcoin-ethereum-rebound-but-still-show-overheated-signals-k33-research">gained over 3%</a> during U.S. trading hours and has seen a 7.5% gain over 24 hours to trade at $66,838, <a href="https://pro.cointelegraph.com/coins/bitcoin">according</a> to Cointelegraph Markets Pro.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/a22695f4-7048-4a3c-8a58-449f71f7e188.png" alt="" title="">
 <figcaption style="text-align: center;">
 Bitcoin’s 24-hour price in UTC hit an intraday bottom of just below $60,900. Source: Cointelegraph Markets Pro
 </figcaption>
</figure>
Over the previous week, BTC has slid from its March 14 <a href="https://cointelegraph.com/news/bitcoin-price-new-73-6-k-all-time-high-etfs-eat">record high</a> as the countdown to the blockchain’s <a href="https://cointelegraph.com/learn/bitcoin-halving-how-does-the-halving-cycle-work-and-why-does-it-matter">halving</a> — where mining rewards are cut 50% — enters into its final month.
Historically, BTC has fallen in the lead-up to the halving, and it has <a href="https://cointelegraph.com/news/bitcoin-price-30-day-halving-investment">followed a similar pattern</a> this time around as the event enters into the final 30 days, per CoinMarketCap <a href="https://coinmarketcap.com/events/bitcoin-halving/" target="_blank" rel="noopener nofollow">data</a>.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-bull-run-china-bitcoin-herbert-sim-hall-of-flame/">The Bitcoin Man, X Hall of Flame: China will intensify Bitcoin bull run, $1M by 2028</a>

Spot Bitcoin ETFs suffer third straight day of net outflows, $261M bled

Cointelegraph

2024년 3월 21일에 게재된 다른 기사

Europe Takes Historic Step with Adoption of AI Act

Lawyer for Cryptoqueen’s OneCoin compliance chief asks for time served

Government and the SEC Enquiring Ethereum Foundation; ETH Bullish

Unveiling Full Potential: BlockDAG Presale’s Remarkable $6.3M Presale Triumph Amid Arbitrum Price...

Which Altcoins Can Be Listed on Binance in 2024? Here are the Predictions!

The Billion-Dollar Bitcoin Clean-Up: How A UK Woman Laundered $6B From A Chinese Fraud Scheme

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!