The exchange-traded funds lost a record $671.9 million as bitcoin extended post-Fed losses below $100,000.
Investors pulled a record $671.9 million from the 11 spot bitcoin ETFs on Thursday, snapping a 15-day winning trend.
The U.S.-listed spot bitcoin exchange-traded funds registered record outflows Thursday and the CME futures premium dropped into single digits in a sign of weakening short-term demand. Fidelity's FBTC and Grayscale's GBTC led the outflows, losing $208.5 million and $188.6 million, respectively. Other funds registered outflows, too, and BlackRock's IBIT scored its first zero in several weeks.The bearish sentiment was mirrored in the derivatives market, where the annualized premium in the CME's regulated one-month bitcoin futures fell to 9.83%, the lowest in over a month, according to data source Amberdata.
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