The US-based Bitcoin-Traded Funds (ETF) has been struggling in terms of investor participation wines for the past few weeks. In the last week of February, cryptocurrency -based financial instruments witnessed the withdrawal of $ 114 billion in record.
This story was not much different from Bitcoin ETFS starting a month in March and registered a net leak of nearly $ 800 million last week. This increase trend reflects the changes in the appetite and emotions of institutional investors, especially in the United States.
Bitcoin ETFS posts a net leak of $ 490 million every day.
According to the latest market data, the US Bitcoin ETF market recorded a daily leak of about $ 490 million on Friday, March 7.
ARK & 21 stock Bitcoin ETF (Tik, Fidelity Wise Origin Bitcoin Fund (FBTC) posted a net leak of about $ 150 million for this week’s closing.
BLACKROCK’s Bitcoin Trust (IBIT), the largest Bitcoin exchange trading fund based on net assets, has reduced net value of $ 38.5 million on Friday. Meanwhile, GrayScale’s Bitcoin Trust (GBTC) and BITSB (Bitwise’s BTC Fund) recorded a total leak of about $ 36.5 million and $ 18.6 million on the day, respectively.
Source: SoSoValue
Interestingly, VANECK’s Bitcoin Fund (with Tilecer HODL) was one of the US -based Bitcoin ETFs that were net inflow on Friday. The Exchange Transaction Fund has added about $ 617,500 to close the state.
As already mentioned, this daily performance recorded Bitcoin ETF’s five consecutive days. The encryption -based product has not yet recorded the day of inflow in March, with a net inflow every day on Friday, February 28.
The one -day withdrawal of $ 499 million put the weekly performance of Bitcoin ETFS last week for $ 799.9 million. Interestingly, this represents four consecutive weeks (and second highest) of the four consecutive weeks of the cryptocurrency exchange trading funds.
Bitcoin price at a glance
In recent weeks, the performance of BTC exchange transaction funds reflects some of the sluggish Bitcoin price behavior within the same period. The price of Bitcoin could not maintain positive exercise from the somewhat improved encryption climate in the United States.
At the time of this article, Premier Cryptocurrency is about $ 86,100, reflecting more than 1% of prices in the last 24 hours. However, according to Coingecko’s data, Bitcoin prices rose more than 2%over the weekly period.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Istock’s main image, TradingView chart
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