Key Points:
Read more: Bitcoin Inflows Surge to $543 Million After Powell’s Rate Comments
This marks the ninth day in August when Bitcoin ETF outflows were recorded, against the usually positive trend seen in previous months.
Among the Bitcoin ETFs, Grayscale’s Bitcoin Trust led the outflow with $70.2 million, followed closely by ARK’s ARKB with an outflow of $65 million, Bitwise’s BITB with $16.4 million, Fidelity’s FBTC with $12.9 million, and Invesco’s BTCO with $11.1 million.
In sharp contrast, BlackRock’s iShares Bitcoin Trust registered no net inflows or outflows on the same day. The fund has only had outflows twice since the end of January when it was launched, with the most recent being on August 29.
This recent slump in trading volumes for Bitcoin ETFs comes after its peak in early March, where some of such ETFs have even recorded zero flows since the beginning of this week.
Among the several ETFs, Grayscale’s GBTC seems to be the worst-hit one in regard to the highest Bitcoin ETF outflows. The question that everyone wants an answer to right now is: Where do spot Bitcoin ETFs go from here, and will the trend keep sliding further down?
Market analysts maintain that the recent Bitcoin ETF outflows may be a result of a range of factors, including changes in the price action of Bitcoin, shifting expectations in the market, and regulatory dynamics that change with time.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Since its inception, Dogecoin (DOGE) has come a long way, from being ridiculed as a…
Coinlist CEO Raghav Gulati critiques potential risks related to EigenLayer token issues and offers suggestions…
The new Telegram Gifts feature allows users to send customizable gifts, which recipients can display…
Explore how Qubetics’ decentralised VPN enhances security and privacy, Aptos aims for price growth, and…
Explore the hot presale crypto opportunities with Qubetics, along with the promising growth potential of…
Explore prime long-term crypto investments: BlockDAG’s 50% bonus is almost over & BNB displays bullish…
This website uses cookies.