U.S.-listed Bitcoin ETFs saw a significant shift on Thursday as investors pulled out $400.7 million—the third-largest outflow since their launch, according to Farside. This news comes just after Bitcoin hit an all-time high of $93,000 earlier this month.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Bitcoin Price Pulls Back After Record Highs
Following its recent peak, Bitcoin’s price has now corrected by 6%, trading between $86,600 and $92,000 during Thursday’s session. This correction, while sharp, isn’t entirely surprising; investors often take profits following record highs. In fact, traders withdrew $15 billion from Bitcoin over the past three days, Glassnode data shows.
Historical Outflows Mark Price Bottoms
Interestingly, each of the previous times that Bitcoin ETFs faced such large outflows—on May 1 and Nov. 4—it marked a local price bottom. On both occasions, Bitcoin saw strong gains afterward, with the Nov. 4 outflow preceding a rally to $93,000. Some analysts are now speculating that history could repeat itself.
Mixed Results for Bitcoin ETFs
While some funds saw inflows, like BlackRock’s IBIT (IBIT), which gained $126.5 million, others bled capital. Fidelity’s FBTC (FBTC) reported outflows of $179.2 million, and Ark’s ARKB (ARKB) saw $161.7 million withdrawn. Ethereum ETFs also saw outflows for the first time in two weeks, with $3.2 million withdrawn, according to CoinDesk.
Investors can take a look at TipRank’s Bitcoin ETF Comparison tool to find the ETF best aligned with their investment needs.
