The 11 U.S.-listed spot bitcoin (BTC) exchange-traded funds (ETFs) had a rough day on Monday as growth concerns and a sell-off in Nvidia (NVDA) dented market sentiment.
Fidelity's FBTC led the outflows, registering $162.3 million in withdrawals, while Grayscale's GBTC and other ETFs faced significant losses amid a decline in BTC prices.
The cumulative net outflow of $287.8 million represents the largest single-day tally since May 1, indicating significant investor concerns amidst economic data triggers.
A miss in the manufacturing PMI rehashed fears of an economic slowdown, with Nvidia leading the sell-off, losing 9.54%, impacting market sentiment toward cryptocurrencies.
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