Bitcoin ETFs are facing the second largest fall in their history.

Source: CritpoTendencia Original Title: Bitcoin ETFs Face Second-Largest Drop in History Original Link: A week that seemed to present the conditions for a recovery of the crypto world turned into one of massive liquidations. Panic among investors spread to the assets representing cryptocurrencies in the stock market. In particular, Bitcoin spot ETFs suffered the second largest sell-off in their history during a single trading day.

According to available data, a total of $866.7 million was reported in outflows this Thursday. This massive capital exodus was only surpassed by the $1.140 million on February 25th. This negative scenario occurs amidst a context in which, interestingly, the fundamentals of cryptocurrencies remain strong.

In fact, the accumulation of Bitcoin whales remains strong, with tens of thousands of BTC leaving centralized exchanges. However, this has not been enough to deter Wall Street investors, who are sniffing out possible greater collapses in the coming days.

This is manifested by significant dropouts among the main Bitcoin spot ETFs. Basically, this is a manifestation that many institutional portfolios are losing confidence in the leading cryptocurrency. On the other hand, it is also possible that there is a rotation of capital towards the Solana and XRP ETFs, which saw inflows of $256.6 million and $318.2 million on their debut day.

GBTC, IBIT, and FBTC led the outflows in the Bitcoin ETF sector

The large outflows of capital from Bitcoin funds on Thursday were led by GBTC from a certain asset management company. This product saw outflows of approximately $318.2 million. The second worst performer was the most significant of these products, IBIT from a major financial institution, with $256.6 million in withdrawals. The third worst position was held by FBTC from another management platform, with $119.9 million.

With the results of Friday's session missing, this week has seen over $1.14 billion in outflows from the sector in general. This represents a sale of enormous dimensions that highlights the growing distrust towards the future price of BTC.

It is worth mentioning that on Friday, November (, Bitcoin ETFs saw outflows of $558.4 million, the worst since August. Looking at the overall picture, it can be said that the liquidations show a growing concern among investors.

It is important to mention that the sources of that concern are not necessarily within the crypto market. Probably, the nervousness of investors regarding the technology sector in the U.S. could have a direct impact on the mood of Wall Street crypto investors.

Recent market analyses mention the concerning level of market anxiety regarding the artificial intelligence sector.