The Crypto ETF Crash Wall Street Didn’t See Coming
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U.S. spot crypto-ETFs, particularly those loaded with Bitcoin (CRYPTO: BTC), are experiencing one of their largest drawdowns on record, with billions of dollars shaved from fund flows in just a few weeks.
According to recent data by SoSoValue, U.S. spot Bitcoin ETFs logged around $869.9 million in net outflows on Nov. 13, the second largest single-day exodus since inception. The outflows have only accelerated. So far in November, the total redemptions from spot bitcoin funds have now crossed $3.7 billion, per SoSoValue data, marking the worst month to date for Bitcoin ETFs.
Also, Bloomberg Intelligence data aggregated by…
