Bitcoin ETF meltdown nears $1bn — but JPMorgan sees a reprieve

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Outflows crossed Bitcoin exchange-traded products reached $829 cardinal this week.
Still, Bitcoin bounced backmost and is up for the archetypal clip successful 5 days.

Investors person been dumping Bitcoin exchange-traded funds.

It’s been brutal.

On Monday, JPMorgan found that Fidelity and BlackRock led the Bitcoin ETF capitalist exodus, which totalled immoderate $430 million. A time later, they dumped an further $399 million, the slope said successful a abstracted note.

The two-day outflow full has mounted to much than $829 million.

But determination are signs of reprieve. Bitcoin snapped its five-day losing streak, gaining 0.5% implicit the past 24 hours to astir $83,000.

JPMorgan said that’s a motion pessimism is easing.

The terms sank to a 2025 debased of astir 77,000 connected March 11 arsenic worries dispersed astir US President Donald Trump’s on-and-off tariffs and astir the broader US economy.

Where the terms goes from present is still up successful the air. Some pundits spot the terms falling overmuch further, to arsenic debased arsenic $74,000.

Investor uncertainty has clobbered crypto — and the broader banal market. Fears of a US recession person besides spurred selling.

It’s not conscionable Bitcoin that is bouncing back. XRP saw a much than 3% summation implicit the past 24 hours to $2.26, portion Solana gained to $127 implicit the aforesaid period.

Widespread sell-off

Every azygous Bitcoin ETF supplier registered antagonistic flows connected Tuesday.

BlackRock ETFs hemorrhaged $151 cardinal connected Tuesday, aft losing $90 cardinal the time prior. Fidelity’s FBTC mislaid $107 cardinal connected Tuesday, aft a $135 cardinal outflow time connected Monday.

Smaller players besides saw outflows. Valkyrie BRRR investors sold $32 million, portion Franklin Templeton saw an exodus of $34 million.

Positive quality

But much bullish signals person been cropping up.

On Friday, Trump met with manufacture hotshots astatine the White House for the first-ever crypto summit.

Players similar Michael Saylor and Ripple’s Brad Garlinghouse discussed adding integer currencies arsenic cardinal strategical reserve assets for the US.