ETFs
Bitcoin ETFs Continue to Bleed – $140 Million Outflow Recorded by U.Today
U.Today – According to a recent report, on June 20, spot exchange-traded funds (ETFs) saw a massive outflow of $140 million, marking the fifth consecutive day of BTC outflows from these entities.
This data was shared by popular cryptocurrency journalist and blogger Colin Wu on his X account. Wu clarified that Grayscale’s ETF, GBTC, lost $53.1 million in a single day. BlackRock’s IBIT ETF faced an outflow of $1.4791 million. However, currently, IBIT holds a total of $17.643 billion in BTC holdings.
Over the past five days, Grayscale has lost $232 million. That’s even less than what Fidelity (FBTC) lost during the same period, $413 million.
These capital outflows took place as, this week, the world’s flagship cryptocurrency, Bitcoin, gradually plunged by almost 5.2% as it lost the $67,000 price level. As of this writing, BTC is changing hands at $63,880.
The smart whale sells a big chunk of BTC
Analytical account @lookonchain shared that as ETFs sell off their BTC, a smart whale has followed suit. This trader transferred 660 BTC to the Binance exchange to sell. The tweet also shares some details about this whale’s previous successful trades.
Over the past year, he traded large amounts of BTC twice, making a significant profit on each of these transactions – more than $30 million in total.
In one such large trade, the trader bought 718 Bitcoins between August and November last year for around $29,385, then sold them at $41,953 in December, earning $9 million (+43%). ).
The second transaction was for the 1,181 BTC he purchased between February and May 13 of this year. The whale sold this Bitcoin on May 27 and June 20, earning $21.2 million (+37%).