BlackRock Triggers Fund Sell-off, $236 Million Withdrawn in One Day

Investors began to withdraw capital en masse from the U.S. ETF market, pulling out $236 million in a single day. The main source of the sell-off was BlackRock's IBIT fund, which saw $201 million flow out. Fidelity's FBTC fund lost about $44 million, while the BITB fund attracted $8 million. During Asian morning hours, the price of Bitcoin fell below $77,500. Solana and Zcash recorded declines of about 3%, while XRP, Tron, and Dogecoin dropped nearly 2%. Ethereum-based funds gained $11 million, marking the 12th consecutive day of inflows. XRP funds attracted $14 million, and Solana funds gained $10 million. Analysts are closely monitoring the movements of the IBIT fund, and another day in the red would confirm the theory of portfolio balancing by a single entity.

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