Bitcoin's price falling below the $63,000 mark has triggered a dramatic 38% reversal in related exchange-traded funds over four trading days, putting the capital advantages built up earlier under severe pressure. Data shows that over the past 24 hours, the coin's price touched a low of $62,487.
The ARK 21Shares Bitcoin ETF (ARKB.US) led the outflows with $58.8 million, closely followed by Fidelity FBTC (FBTC.US) which saw $55.1 million withdrawn. Together, these two funds accounted for a combined $113.9 million, representing 64.3% of the total outflows from seven products.
Bitwise BITB (BITB.US) recorded outflows of $9.3 million, Invesco (IVZ.US) BTCO (BTCO.US) saw $7.9 million leave, BlackRock (BLK.US) IBIT (IBIT.US) experienced $5.7 million in withdrawals, and WisdomTree Investments (WT.US) BTCW (BTCW.US) had $4.0 million exit.
Data from August 13 reveals weakening demand, as the prior inflow of $853 million has been offset by $332 million in outflows, a 38% reversal. The net inflow for the month now stands at just $521 million. In a notable divergence, Morgan Stanley (MS.US) and the Grayscale Mini Bitcoin Trust (BTC.US) bucked the trend by attracting capital, standing in stark contrast to other major products. Whether this structural divergence is a short-term disruption or a long-term trend will require confirmation from trading sessions in the coming days.
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