Bitcoin Spot ETF in the US Returns to Net Outflow in Three Trading Days
CryptoNewsTerminal Staff11 Sep, 2024
Bitcoin Spot ETF in the US Returns to Net Outflow in Three Trading Days
Bitcoin Spot ETF in the US saw a net outflow of $43.97 million on the 11th (local time), according to data from financial information platform Farside Investors. This marks a return to net outflow in three trading days. Fidelity FBTC received an inflow of $12.57 million, while Grayscale GBTC($46 million) and ARK21Shares ARKB ($54 million) showed net outflows. The reason for the net outflow is unclear. Some analysts believe that it could be due to investors taking profits after the recent rally in the price of Bitcoin. Others believe that it could be due to concerns about the regulatory environment for cryptocurrencies in the US. Despite the net outflow, the Bitcoin Spot ETF market in the US is still growing. There are now five Bitcoin Spot ETFs trading on US exchanges, with a total of over $1.5 billion in assets under management.
