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Bitcoin and Ether ETFs lose $530 million in a day as Bitcoin dips under $76,000

US funds that hold Bitcoin and Ether saw about $530 million leave in one day, reversing the prior session's inflows. Bitcoin fell below $76,000 and Ether dropped 8.5% to $2,220.

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Photo: Steve Jurvetson, CC BY 2.0, via Wikimedia Commons

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Bitcoin fell below $76,000 on Thursday. US exchange traded funds (ETFs), which are funds that trade like stocks and hold the coins directly, recorded about $530 million in combined net outflows. That reversed the positive flows of the session before.

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Funds that hold Bitcoin accounted for roughly $430 million of the withdrawals. Funds that hold Ether lost about $100 million. Those figures come from SoSoValue data.

In numbers

  • $530 millionCombined ETF net outflows
  • -8.5%Ether daily drop
  • $2,220Ether price

Bitcoin, the past month

$75,929down −11.23%

$85,540$75,9327 Oct6 Nov

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Six funds recorded withdrawals on November 5. That left this week's recovery in demand for the products short-lived.

Ether fell 8.5% to $2,220 and lagged Bitcoin. The material also describes a $3 trillion wipeout on Wall Street that rattled crypto, and says election gains in the market have evaporated.

One BlackRock ETF saw clients sell $104.97 million worth of Bitcoin.

Bitcoin$75,929down −11.23%over 1 month
$85,540$75,9327 Oct6 Nov

Prices by CoinGecko. Past moves say nothing about future ones.

Also in this story

Etherdown −17.23%1 month

$1,000 in Bitcoin

Had you put $ into Bitcoin a month ago, it would be worth – now.

From the prices in the chart, before any fees or taxes. Not a suggestion to buy or sell.

ETF outflows in one day

  • Bitcoin funds430 million $
  • Ether funds100 million $

Figures are from SoSoValue data, in millions of dollars.

Background

The outflows reversed the previous session's positive flows and cut short a recovery in ETF demand earlier in the week.

Where
United States
Published
Section
Crypto
Markets
Bitcoin, Ether

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
Photo: Steve Jurvetson, CC BY 2.0, via Wikimedia Commons

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