Exchange-traded funds (ETFs) for spot Bitcoin in the United States experienced substantial outflows on January 8, marking their highest levels in three weeks. This followed a brief dip in Bitcoin's price below $93,000, triggering panic among investors and prompting a wave of selling.
Data from SoSoValue revealed that the 12 Bitcoin-focused ETFs recorded outflows of $582.9 million on January 8, ending a three-day inflow streak that had brought nearly $2 billion into these funds. This represents the largest outflow since December 19, 2024, when these funds saw outflows of $680 million.
The FBTC fund, managed by Fidelity, led the outflows with $258.69 million withdrawn on January 8. It was followed by the ARKB fund from ARK 21Shares, which experienced outflows of $148.3 million. The IBIT fund from BlackRock, which had previously managed to offset outflows the day before, also recorded outflows of $124.05 million.
Furthermore, the Valkyrie BRRR and Bitwise BITB funds added to the negative trend, with withdrawals of $14.1 million and $11.26 million, respectively. The BTCO fund from Invesco Galaxy, GBTC from Grayscale, and EZBC from Franklin Templeton saw more modest outflows of $9.38 million, $8.94 million, and $8.17 million, respectively.
On January 8, the total trading volume of these ETFs reached $3.4 billion, a noticeable decline from the previous day's trading volume of $4.62 billion.
