First Mover Americas: Bitcoin Falls Below $64K Following $900M in ETF Outflows

Jamie Crawley is a CoinDesk news reporter based in London.

This is the first time BTC has dropped below $64,000 since mid-May. At the time of writing, the bitcoin price is around $63,900, a fall of 3.5% in the last 24 hours. The CoinDesk 20 Index , a measurement of the broader digital asset market, has dropped just under 2.3%, while ETH is down 2.25% at $3,500 and SOL has fallen almost 3.8% to $132.24.

recorded a fifth straight day of outflows on Thursday, taking their total losses for the week to $900 million Data tracked by SoSoValue shows that the 11 listed ETFs lost $140 million on Thursday, with $1.1 billion in trading volumes. Grayscale’s GBTC – which has mostly seen outflows since its conversion to an ETF in January – led with $53 million followed by Fidelity’s FBTC at $51 million. BlackRock’s IBIT, the biggest ETF by assets held, was the only product with net inflows, adding $1 million. The others saw zero net change.

The London-based desk will start operations soon and be part of the bank's FX trading unit, the report said, citing people familiar with the matter. Standard Chartered would become one of the first global banks to enter spot cryptocurrency trading, though others, such as Goldman Sachs, have been trading crypto derivatives for several years.

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