The post Bitcoin ETF Saw $287.8M Outflow Sparks Fear of Market Instability Price Drop To $56k appeared first on Coinpedia Fintech News
After a 4.5% drop in Bitcoin’s price following a market decline, Bitcoin exchange-traded funds (ETFs) experienced a significant outflow of $287.8 million on September 3. This marks the fifth day in a row of money flowing out of these funds, leading to nearly $200 million in liquidations across the market.
Leading the outflow charge was Fidelity’s FBTC ETF, which saw $162.3 million vanish in a single day, while Grayscale Bitcoin Trust (GBTC) ETF saw $50.4 outflow. These massive withdrawals have pushed the total net asset value of Bitcoin spot ETFs down to $52.7 billion, sparking concerns about what lies ahead for Bitcoin as market instability grows.