- The Bitcoin ETF market witnessed a dip of around 20%, with outflows picking up.
- Grayscale’s GBTC leads the charge, witnessing $640 million in outflows in just one day.
- According to Peter Schiff, the biggest loser in the market is Fidelity’s FBTC, with a fall of 32%.
The crypto community has been eagerly watching the economy following the long-anticipated Bitcoin ETF launch, analyzing the market moves. However, recent reports unearthed that the Bitcoin ETF outflow is “picking up,” overpowering the inflows.
James Seyffart, a Bloomberg analyst, shared an X post on January 23, citing the highest outflow of Grayscale’s ETF, GBTC. Today, GBTC saw a staggering outflow of $640 million, marking a “bad day for Bitcoin ETFs.” So far, Grayscale has seen a total GBTC outflow of $3.45 billion.
Woof. BAD day for #Bitcoin ETFs overall in the Cointucky Derby. $GBTC saw over $640 million flow out today. Outflows aren't slowing — they're picking up. This is the largest outflow yet for GBTC. Total out so far is $3.45 Billion. (Don't have BlackRock data yet) pic.twitter.com/jNOyiTADVq— James Seyffart (@JSeyff) January 23, 2024
With the SEC’s approval of th…
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