Bitcoin ETF outflows surge 340%, Fidelity’s FBTC leads

In the United States, the funds negotiated in exchange for Bitcoin saw a sharp increase in outings on February 12 in the expectations of a more bellicist federal reserve position on interest rate reductions.

According to Sosovalue dataThe 12 ETF Bitcoin with 12 places recorded $ 251.03 million out of outing – a jump of 342% compared to the $ 56.76 million the day before.

LoyaltyThe FBTC led to the third consecutive day with $ 101.97 million out of the fund, followed by Arkb d’Ark and 21Shares with $ 97.03 million. Additional outings included:

• Bitwise bitb: $ 25.94 million
• Blackrock’s Ibit: $ 22.11 million
• Investco Galaxy BTCO: $ 9.69 million
• Grayscale’s GBTC: $ 6.92 million
• BRRR de Valkyrie: $ 3.71 million

Mini Bitcoin Trust from Graycale was an exception, recording $ 16.34 million in entries. The remaining three ETF BTCs saw no clear movement.

The total trading volume for Bitcoin ETF reached $ 2.53 billion on February 12, cumulative net inputs of $ 40.21 billion.

Ether ETHER also switch to net outputs

The FNB Bitcoin were not alone in experiencing outings – the ETHER ETFs have also become negative.

ETH ETF recorded $ 40.95 million In redemption, reversing the $ 12.58 million from the day before the day before. The losses are entirely from the Grayscale de Graycale and Fidelity Fethcal Fethe, which experienced $ 30.23 million and $ 10.72 million outings. The daily negotiation volume amounted to $ 349.41 million, with total net entries since launching $ 3.13 billion.

Market reaction to inflation data

Bitcoin and ETF ETF outings coincided with a drop in bitcoin (BTC) And (Ethn) prices according to the strongest than expected American inflation data. January inflation came from 3.3% in annual sliding, exceeding forecasts of 3.1%.

With warmer than expected inflation, merchants now predict a single drop in rate in 2025, the Fed probably holding until 2026. Consequently, the cryptography market has suffered, because digital assets generally work better in lower interest rate environments.

Commenting on the impact of the latest inflation data, David Hernandez, specialist in Crypto investments at 21Shares, told Crypto.News that he weighed both on BTC prices and S&P 500 term contracts. However, he noted that this reaction could prepare the ground for a major rally if the Fed reduces the rates later this year.

“Any rate of rate that materializes could release a flow of liquidity, propel the shares and the crypto higher,” he said.

Hernandez added that Bitcoin, in particular, could benefit significantly, potentially increasing from new heights of all time. “BTC could pierce $ 110,000 and solidify its place in a six-digit territory,” he said.