Bitcoin News Today: Bitcoin ETFs See $1.1B Outflow, While New Investments Flow Into XRP and Solana Funds
- U.S. Bitcoin ETFs lost $1.11B in three weeks, with BlackRock's IBIT and Grayscale's BTC leading outflows amid Bitcoin's six-month low at $95,200. - Analysts link redemptions to macroeconomic uncertainty and profit-taking after October's $126,000 rally, while Harvard tripled its IBIT holdings to $442.8M. - XRP and Solana ETFs attracted $255M in new capital, highlighting crypto diversification as Ethereum ETFs also faced $259M in single-day outflows. - Market debates Bitcoin's $94,000 support level amid th
U.S. spot
The sell-off intensified on November 13, when Bitcoin ETFs registered their second-highest single-day outflow of $869 million since launching in January 2024
Simon Gerovich, CEO of Japanese Bitcoin treasury company Metaplanet, stated that ETFs do not necessarily diminish the attractiveness of holding Bitcoin directly. “ETFs offer passive exposure—your BTC position remains unchanged unless there are new inflows,” he posted on X, disputing the idea that ETFs are a threat to treasury firms
As Bitcoin ETFs face outflows, new crypto investment products are attracting funds. The launch of the first U.S. XRP ETF on November 13 brought in $243 million,
Some institutions are still increasing their exposure. Harvard University tripled its investment in BlackRock’s IBIT,
The technical picture for the market remains uncertain. Bitcoin’s decline below $94,000—a level last seen in May—has
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