Bitcoin Spot ETF Sees Continued Outflows, Marking Seven Consecutive Days of Negative Flow
CryptoNewsTerminal Staff05 Sep, 2024
Bitcoin Spot ETF Sees Continued Outflows, Marking Seven Consecutive Days of Negative Flow
Farside Investors, a financial information platform, has reported significant net outflows from US-based Bitcoin (BTC) spot exchange-traded funds (ETFs) over the past seven trading days, with a total of $211 million being withdrawn on the previous day alone. This ongoing trend suggests a continuous decrease in investor appetite for BTC spot ETFs, with major players such as Fidelity's FBTC, Bitwise's BITB, and Grayscale's GBTC and mini BTC ETF experiencing net outflows of $149 million, $30 million, $23.2 million, and $8.4 million, respectively. Notably, BlackRock's IBIT has not reported any net outflows during this period. These outflows indicate a shift in investor sentiment towards BTC spot ETFs, potentially driven by factors such as concerns over market volatility and regulatory uncertainty.
