Bitcoin ETFs Extend Outflow Streak To Three Days Amid US Banking Jitters
US spot Bitcoin ETFs (exchange-traded funds) recorded $366.6 million in outflows on Friday, extending their losing streak to a third day as investors turned risk-off amid renewed concerns over stress in credit markets The withdrawals followed $536 million in outflows a day earlier, the largest single-day net loss since August, amid weakening appetite for risk assets as jitters about US regional banks rippled through markets. That sent Bitcoin plunging to as low as $103,598.43 in the past 24 hours, according to CoinMarketCap. It has since recovered to trade at $106,586.89 as of 12:41 a.m. EST, still down over 2%. The Crypto Fear & Greed Index , a gauge of investor sentiment, has plunged 29 points from last month to an ”extreme fear” reading of 23. BlackRock’s IBIT Leads The Spot Bitcoin ETF Outflows IBIT, the Bitcoin ETF offered by asset management giant BlackRock, recorded the highest net daily outflows on the day. Data from Farside Investors shows that $268....