$869M Outflow Hits Spot ETFs

The 11 U.S.-listed spot bitcoin exchange-traded funds (ETFs) collectively bled $869.86 million Thursday, registering their second-highest outflow on record, according to data source SoSoValue.

Investors have pulled out $2.64 billion over three weeks, signaling growing caution and shifting sentiment in the market.

Thursday’s outflow coincided with Bitcoin’s fall below the key $100,000 support level and heightened risk aversion on Wall Street. Ether ETFs also registered an outflow of $259.72 million, the highest since Oct. 13.

As of writing, bitcoin traded near $97,500, down over 5% in 24 hours and 11% on a month-to-date basis, according to data source CoinDesk.