“On the day of the ETF’s unprecedented outflow, Bitcoin dipped to nearly $62,000 during U.S. trading hours, marking a decline from its recent peak reached last week.”

United States-based Bitcoin exchange-traded funds (ETFs) collectively experienced their highest daily outflows on record, with a total of $326 million withdrawn from the 10 funds on March 19.

As of March 19, Grayscale reported that its Bitcoin Trust (GBTC) held over $23.7 billion in assets under management. If the outflow rate remains constant, GBTC could deplete its assets by late July.

On the same day, GBTC recorded net outflows of $443.5 million, with BlackRock, Fidelity, and Bitwise’s ETFs being the sole funds to see net inflows, according to Farside Investors data.

Together, these three funds attracted $117.3 million in net inflows, marking the second-lowest inflow day for the nine new Bitcoin ETFs, excluding GBTC.

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BlackRock’s iShares Bitcoin Trust (IBIT) led with the highest net inflows at $75.2 million, followed by Fidelity Wise Origin Bitcoin Fund (FBTC) with $39.6 million.

However, the Bitwise Bitcoin ETF (BITB) only attracted $2.5 million in net inflows, its lowest on record, excluding days with zero new inflows.

The outflows from ETFs surpassed the previous record of $158.3 million set on January 24, marking the second consecutive day of net outflows. This significant withdrawal coincided with Bitcoin’s price dropping to as low as $62,400 on March 19 during U.S. trading hours, following its recent peak of $73,835 on March 14.

In the last 24 hours, Bitcoin has declined by 5.4% and is currently trading at $61,173, slightly above its intraday low of $60,872, as per sources Markets Pro.

March 18 witnessed GBTC’s highest net outflow day of $642.5 million. Since January 11, when it transitioned from a trust to an ETF, GBTC has experienced nearly $12.9 billion in outflows over 49 trading days.