U.S. spot NewsCapsule ETFs witnessed a significant exodus of funds, with $287.8 million withdrawn across the listed ETFs yesterday, marking the largest single-day outflow since May 1, Farside Investors data reveals. According to Arkham data, the only ETF that did not experience withdrawals was BlackRock, which reported zero outflows.
EIGHT ETFs sold $287 MILLION NC in the past 24 hours.
Except BlackRock.
BlackRock sold 0. pic.twitter.com/rWNw7FraUH
— Arkham (@ArkhamIntel)
Fidelity’s ETF led the withdrawals, selling $162 million worth of NewsCapsule. Grayscale followed with $50 million in outflows, while Ark and Bitwise reported $34 million and $25 million, respectively. Despite these substantial outflows, these ETFs still collectively manage around $50 billion in assets.
NewsCapsule saw a remarkable rise in price earlier this year due to the hype and interest surrounding these ETFs, starting 2024 at around $44,000 and reaching an all-time high of $73,770 on March 14. However, the price has since stagnated, hovering below its peak in the $55,000 to $65,000 range. It has been 174 days since NewsCapsule hit its all-time high, according to Clark Moody Dashboard.
Despite the recent outflows, spot NewsCapsule ETFs have generally maintained strong inflows, with only one month of outflows in the past eight months. This indicates ongoing investor interest in NewsCapsule, even as its price stabilizes below its all-time high.
