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$69,919.00 4.73388
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$3,635.87 3.49613
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$0.0000302 8.40763
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Bitcoin
Bitcoin (BTC)
$69,919.00 4.73388
Bitcoin price
Ethereum
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$3,635.87 3.49613
Ethereum price
BNB
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$632.53 3.80524
BNB price
Solana
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$160.06 5.40181
Solana price
XRP
XRP (XRP)
$0.4968110 3.07387
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000229 4.52357
Shiba Inu price
Pepe
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$0.0000136 13.16201
Pepe price
Bonk
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$0.0000302 8.40763
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Bitcoin
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$69,919.00 4.73388
Bitcoin price
Ethereum
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$3,635.87 3.49613
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BNB
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$632.53 3.80524
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Solana
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$160.06 5.40181
Solana price
XRP
XRP (XRP)
$0.4968110 3.07387
XRP price
Shiba Inu
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$0.0000229 4.52357
Shiba Inu price
Pepe
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$0.0000136 13.16201
Pepe price
Bonk
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$0.0000302 8.40763
Bonk price
Bitcoin
Bitcoin (BTC)
$69,919.00 4.73388
Bitcoin price
Ethereum
Ethereum (ETH)
$3,635.87 3.49613
Ethereum price
BNB
BNB (BNB)
$632.53 3.80524
BNB price
Solana
Solana (SOL)
$160.06 5.40181
Solana price
XRP
XRP (XRP)
$0.4968110 3.07387
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000229 4.52357
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000136 13.16201
Pepe price
Bonk
Bonk (BONK)
$0.0000302 8.40763
Bonk price
SirWin
SirWin
SirWin

Bitcoin ETFs shed $94m on fourth day of net outflows

bitcoin-etfs-shed-94m-on-fourth-day-of-net-outflows
Edited by
News
Bitcoin ETFs shed $94m on fourth day of net outflows

Bitcoin declined over 5% on March 22 as spot ETFs recorded negative numbers for the fourth consecutive day, mainly due to Grayscale GBTC exits.

According to SoSo Value, 10 spot Bitcoin (BTC) ETFs marked $93.8 million in cumulative single-day outflow during trading on March 21. Grayscale’s GBTC accounted for most of the BTC ETF share liquidation, amounting to $358 million.

Bloomberg’s James Seyffart verified that Grayscale’s BTC ETF has lost nearly half of its shares to sell orders following the approval of spot BTC ETFs on Jan. 11. 

Seyffart concurred with fellow analyst Eric Balchunas that some of GBTC’s liquidation may be attributed to Gemini and Genesis. Bankruptcy crypto exchange FTX also liquidated $2 billion in Grayscale shares, crypto.news reported in January.

Outflows from GBTC overshadowed inflows into eight other products. BlackRock’s BTC ETF garnered over $223 million in demand, followed by $12 million injected into the fund from Bitwise. Data showed that the WisdomTree failed to receive inflows for at least the second time. 

Bitcoin down 8% in a week

Bitcoin retraced over 8% in the past week after falling below $63,000, per CoinMarketCap. BTC has dropped 14% from its $73,750 all-time high set on March 14. The world’s largest cryptocurrency traded around $62,900, roughly a month away from its quadrennial halving event

Investment advisor at neobank Keytom, Evgeny Filichkin, echoed the general sentiment that the halving combined with spot BTC ETFs demand will catalysize a supply shock and likely trigger a parabolic run. 

Following the halving event, the supply of new BTCs will decrease, causing market dynamics to intensify. With increasing demand and limited availability, the heightened scarcity will amplify Bitcoin’s appeal, driving further investment interest.”

Evgeny Filichkin, Keytom investment advisor
Bitcoin ETFs shed $94m on fourth day of net outflows - 1
BTC daily chart | Source: CoinMarketCap