The extremely successful spot for Bitcoin (BTC). Exchange Traded Fund (ETF) streak ended yesterday. There have been positive net inflows for all exchange-traded funds combined for no less than 17 consecutive trading days, but yesterday was the first time more capital was withdrawn than invested.
Negative day for Bitcoin ETFs
Bitcoin price has seen an impressive rise recently, with the huge success of Bitcoin ETFs launched last month playing a major role in this.
January 25th was the last negative day for all Bitcoin ETFs combined. On that day, net outflows were $79.9 million.
Since then, daily capital increases have been recorded, and between February 8 and February 16, daily net inflows reached hundreds of millions of dollars.
At that time you could read on Crypto Insiders that a higher inflow was achieved in just 4 trading days than in the first 20 trading days combined.
However, this heyday has now come to an end. BitMEX research has shown earlier today on social media platform
Grayscale’s GBTC saw nearly $200 million worth of Bitcoin disappear from its fund. At the same time, strong holders BlackRock and Fidelity also had a bad day, with net inflows of $96.5 million and $52.5 million, respectively.
When it comes to Bitcoins, the total holdings of all stock exchange funds fell by 716 units. This brings the total holdings to 108,616 BTC, HODL15Capital said knowledge. At the current Bitcoin price, this gigantic stack is worth about $5.6 billion.
BTC price remains intact
The Bitcoin price has not yet suffered a collapse due to the disappointing figures.
The price has been hovering just below $52,000 for a few days. Yesterday the price briefly fell below $51,000, but now $52,000 is back within reach. At the time of writing, BTC price is $51,674.
Things have happened very quickly since the beginning of the month. February started with a price of $42,583. However, for more than a week, the price has been consolidating in anticipation of the next big move.
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