Bitcoin ETFs Post Largest One-Day Net Outflow Since June

U.S. spot Bitcoin ETFs recorded a net outflow of $635.6 million on Thursday, the largest one-day net outflow since June. BlackRock IBIT saw a net outflow of $254.1 million, Fidelity FBTC $217.5 million, and Ark Invest and 21Shares ARKB $109.4 million. Morgan Stanley MSBT took in $2.3 million, the only day since its April launch that the fund did not record a net outflow. For the week, U.S. spot Bitcoin ETFs still recorded a net inflow of $442.7 million. Since their January 2024 launch, the funds have accumulated more than $57 billion in net inflows, with assets under management surpassing $100 billion. U.S. spot Ethereum ETFs saw a net outflow of $110.6 million on Thursday. Solana and Hyperliquid ETFs also saw outflows; the XRP ETF recorded a net inflow of $3.6 million. Bitcoin fell to around $81,500 on Friday, down 3.4% over the past 24 hours. Selling pressure in U.S. tech stocks spread to Asia, and concerns over AI spending and geopolitical tensions weighed on crypto markets. At least $440 million in leveraged crypto positions were liquidated in the past 24 hours, with long positions accounting for roughly $397 million. Jeff Anderson, who heads STS Digital in the U.S., said the market has recently traded between $80,000 and $86,000, and the next key focus is the direction of a breakout. (The Block)