The 11 Bitcoin exchange-traded funds lost $457.6 million yesterday following a bloodbath that swept across both the traditional financial markets and the crypto market.
The $457.6 million outflow yesterday was the first net outflow recorded by the Bitcoin ETFs in the past 7 trading days.
Five Bitcoin ETFs recorded outflows ranging from over $100 million to lesser amounts.
Blackrock’s IBIT recorded the only inflow for the day, which was insufficient to offset the massive outflows recorded on other Bitcoin ETF funds.
Farside Investors UK revealed that Fidelity’s FBTC led the outflows for the day, losing $268 million. Grayscale’s GBTC followed suit, recording an outflow of $108.5 million.
Bitwise BITB and ARK 21 Shares ARKB recorded outflows of $88.6 million and $50.1 million respectively.
VanEck’s HODL recorded the least outflow for the day, losing $5.7 million
Blackrock’s IBIT pulled in the only inflow for the day, recording an inflow of $63.9 million for the day.
DeepSeek Artificial Intelligence Launch Leads to Market Dip
DeepSeek, a Chinese artificial intelligence startup, recently introduced its AI model, R1, which has significantly disrupted global markets.
The R1 model quickly became the top-rated free app on Apple’s U.S. App Store, surpassing OpenAI’s ChatGPT.
Nvidia, a leading AI chip manufacturer, experienced a nearly 18% drop in its stock value, erasing approximately $593 billion from its market capitalization.
Other Big Tech companies like Tesla and, Apple, Microsoft also witnessed dips in their stock prices.
In the crypto market, Bitcoin, the primary crypto asset, dipped to $99,000 before correcting to $102,583 at the time of writing this report.
