On Monday, Bitcoin exchange-traded funds logged $580 million worth of outflows. These are the largest single-day outflows to date, according to data provided by Bianco Research.
Fidelity Wise Origin Bitcoin Fund (FBTC) recorded as much as $169 million worth of inflows.
The ARK 21Shares Bitcoin ETF (ARKB) comes in second place with $138 million.
Grayscale Bitcoin Mini Trust ETF (BTC) and Bitwise Bitcoin ETF (BITB) also recorded rather disastrous outflows of $89.5 million and $79.8 million, respectively.
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Unsurprisingly, BlackRock’s iShares Bitcoin Trust ETF (IBIT) is the only ETF product that managed to remain in the green. On Monday, it still attracted $26 million worth of inflows despite massive outflows recorded by other products.
As reported by U.Today, Jim Bianco, president and macro strategist at Bianco Research, recently ruffled some feathers in the Bitcoin community by doubling down on his claim that much-talked-about ETF products are not actually attracting fresh inflows. This, according to Bianco, explains why the BTC price has failed to move substantially higher despite recording-breaking inflows recorded by ETF products last week.
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Bitcoin is currently changing hands at $68,567 after dipping by 0.6% over the past 24 hours. The cryptocurrency topped the $73,000 level last week, but the bulls fell short of pulling off a new lifetime peak.
Ethereum ETFs have also recorded rather significant outflows of roughy $63 million, according to data provided by SoSo Value. Grayscale Ethereum Mini Trust ETF (ETH) and Fidelity Ethereum Fund (FETH) recorded $31.94 million and $31.5 million worth of outflows, respectively.
