Bitcoin ETFs hit by record $671.9M outflows in 1 day
Bitcoin ETFs see record $671.9M outflows on Dec. 19, coinciding with Bitcoin’s price dip and marketwide liquidations.
Bitcoin exchange-traded funds (ETFs) faced a significant sell-off on Dec. 19, reaching net outflows of a record $671.9 million, marking the largest single-day outflow event of the year.
According to Farside Investors data, the largest outflows came from Grayscale’s GBTC, shedding $208.55 million, followed shortly by ARK Invest’s ARKB, which fell $108.4 million.
The fallout of these outflows aligns with a fall in Bitcoin’s (BTC) price as it hovers around $96,409 and coincides with more than $1 billion being liquidated from the market in 24 hours.
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Author: Josh O'Sullivan
