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    U.S. Bitcoin ETFs record third largest cash outflow, BlackRock and Fidelity see mixed results, while Ethereum ETFs also lose funds

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    U.S. Bitcoin ETFs saw their third highest cash outflow since launching, with over $400m being taken out. Notably, Bitcoin’s price often hits a local bottom following outflows above $400m. Different Bitcoin ETFs experienced differing inflows and outflows, with BlackRock’s IBIT receiving $126.5m, but Fidelity’s FBTC seeing an outflow of $179.2m. Meanwhile, Ethereum ETFs experienced their first cash outflow in two weeks, with investors pulling out $3.2m. Since Donald Trump’s election, Bitcoin has risen over 25%.

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    U.S. Bitcoin ETFs experienced their third largest cash outflow since they first launched, with over $400 million being taken out. Interestingly, whenever there’s an outflow greater than $400 million, the price of Bitcoin usually hits a local bottom, as witnessed on May 1 and Nov. 4.

    During the recent trade, Bitcoin’s price swung between roughly $86,600 and nearly $92,000. It has fallen around 6% since its all-time high on Nov. 13 when it broke above $93,000. This price movement isn’t alarming as investors often cash in profits once Bitcoin reaches new highs. In fact, over the past three days, a total of $15 billion has been taken out by investors, following data from Glassnode. Coincidentally, since Donald Trump was elected the new U.S. president, Bitcoin has shot up more than 25%.

    Different Bitcoin ETFs saw varied inflows and outflows. BlackRock’s IBIT continued to reel in big, receiving $126.5 million. However, Fidelity’s FBTC saw an outflow of $179.2 million and Bitwise BITB drained $113.9 million. Ark’s ARKB suffered a loss of $161.7 million while Grayscale products saw a combined outflow of $74.9 million.

    Thursday marked the third worst day for Bitcoin Eagle ETF since its inception. The two other times it experienced an outflow higher than $400 million were on Nov. 4, just before the U.S. election, and May 1. Each time, Bitcoin’s price hit a low before surging dramatically. Whether or not this pattern repeats itself remains to be seen.

    Meanwhile, Ethereum ETFs saw their first cash outflow in about two weeks, with investors pulling out $3.2 million.

    This article was edited by Parikshit Mishra.

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