$869M Outflow Hits Spot ETFs

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

Investors pulled $2.64 billion in three weeks, signaling growing caution and changing market sentiment.

Thursday’s flow coincided with Bitcoin falling below the key $100,000 support level and increased risk aversion on Wall Street. Ether ETF also recorded an inflow of $259.72 million, the highest since October 13.

As of writing, bitcoin was trading near $97,500, up more than 5% in 24 hours and 11% on a monthly basis, according to data source CoinDesk.