Bitcoin ETFs are facing the second largest fall in their history

Source: CritpoTendencia Original Title: Bitcoin ETFs face the second largest drop in their history Original Link: A week that seemed to present the conditions for a recovery of the crypto world turned into one of massive liquidations. Panic among investors spread to the assets that represent cryptocurrencies in the stock markets. In particular, Bitcoin spot ETFs suffered the second largest sell-off in their history during a trading session.

According to data from Farside Investors, a total of $866.7 million was reported in outflows this Thursday. This massive capital abandonment was only surpassed by the $1.140 billion on February 25. This negative scenario occurs amid a context where, curiously, the fundamentals of cryptos remain solid.

In fact, the accumulation of Bitcoin whales remains strong, with tens of thousands of BTC leaving centralized exchanges. However, this has not been enough to deter Wall Street investors, who are sniffing out potential larger collapses in the coming days.

This is manifested by significant abandonments among the main spot Bitcoin ETFs. Basically, this is a manifestation that many institutional wallets are losing confidence in the leading cryptocurrency. On the other hand, it is also possible that there is a rotation of capital towards the Solana and XRP ETFs, which saw inflows of $256.6 million and $318.2 million on their debut day.

Bitcoin ETFs experienced the second worst capital outflow in their history this Thursday.

GBTC, IBIT and FBTC led the outflows in the Bitcoin ETF sector

The large outflows of capital from Bitcoin funds on Thursday were led by Grayscale's GBTC. This product saw outflows of around $318.2 million. The second worst performance was for the most important of these products, BlackRock's IBIT, with $256.6 million in withdrawals. The third worst position was Fidelity's FBTC, with $119.9 million.

With the results of Friday's session pending, this week has recorded over $1.14 billion in outflows from the sector in general. This represents a sale of enormous dimensions that highlights the growing distrust towards the future price of BTC.

It is worth mentioning that on Friday, November (, Bitcoin ETFs saw outflows of $558.4 million, the worst since August. Looking at the overall picture, it can be said that the liquidations show a growing concern among investors.

It is important to mention that the sources of that concern are not necessarily within the crypto market. Probably, the nervousness of investors regarding the technology sector in the U.S. could have a direct impact on the mood of Wall Street crypto investors.

Recent market analyses mention the concerning level of market anxiety regarding the artificial intelligence sector.