Bitcoin ETFs’ Daily Net Outflows Reach $287M

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Bitcoin ETFs listed in the US on Monday experienced a tough day as concerns about economic growth and a drop in Nvidia’s stock (NVDA) caused a decline in market sentiment.

According to data collected by Farside Investors, there was a combined net outflow of $287.8 million, the largest one-day reduction since May 1st when the ETFs lost more than $500 million.

The biggest outflow was seen in Fidelity’s FBTC, which recorded withdrawals of $162.3 million. Grayscale’s GBTC also experienced an outflow of $50.4 million, with BITB and ARK losing $25 million and $33.6 million, respectively.

The rest of the outflow was spread among other funds, with BlackRock’s IBIT remaining neutral for the second consecutive trading day.

On Tuesday, Bitcoin’s price dropped by 2.7% to $57,500, reversing the gains made on Monday.