Bitcoin ETFs Sell $500M During BTC Implosion To $67,000: How Low Can Crypto Go?
U.S. spot Bitcoin (CRYPTO: BTC) ETFs shed $519 million on Tuesday while altcoin ETFs stayed green across the board as Bitcoin crashed to $66,000 overnight.
BlackRock Alone Sold $440M As Five-Week Outflow Total Hits $5B
BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) sold 5,800 Bitcoin worth $440.29 million on Tuesday, accounting for the bulk of the day’s total outflow.
Fidelity‘s (NASDAQ:FBTC) sold 674 Bitcoin for $45.14 million and Grayscale‘s (NASDAQ:BTC) sold 1,250 Bitcoin for $83.51 million. Morgan Stanley‘s (NASDAQ:MSBT) was the only buyer, picking up 220 Bitcoin worth $14.77 million against the tide.
The broader picture is worse. Bitcoin ETFs have shed $5 billion over the past four weeks while Ethereum (CRYPTO: ETH) ETFs recorded $911.75 million in outflows over five weeks.
Tuesday’s selling alone represented 17 days …
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