US Bitcoin ETFs Post $900M Net Outflows In Past Week – Details

The US spot Bitcoin ETFs (exchange-traded funds) endured some of the most difficult days in recent months over the past ￰0￱ the market sentiment flipping and the BTC price stalling, several US investors cashed out on their positions in the world’s largest cryptocurrency by market ￰1￱ posting strong performances over the past few weeks, the tides appear to be shifting for the Bitcoin exchange-traded fund market , with investor appetite in the United States seemingly ￰2￱ latest round of withdrawals ended an inflow streak of four consecutive weeks for the spot Bitcoin ￰3￱ ETFs Register $418 Million Net Inflows According to the latest market data, the US Bitcoin ETFs registered a daily total net inflow of $418.25 million on Friday, September ￰4￱ performance continued the terrible run of form for the crypto-linked investment products, which recorded only a positive inflow day in the past ￰5￱ things down, Fidelity Wise Origin Bitcoin Fund (with the ticker FBTC) posted the most significant daily net outflows, losing more than $300 million on the day.

BlackRock’s iShares Bitcoin Trust came in second, with a total daily withdrawal of $37.25 million to close the ￰6￱ Bitcoin ETF (BITB) recorded a daily total net outflow of $23.79 million on Friday, while Ark & 21Shares Bitcoin ETF (ARKB) lost $17.81 million in value on the ￰7￱ Bitcoin Mini Trust (BTC) and Bitcoin Trust were the only other Bitcoin ETFs with double-digit outflows ($17.14 million and $12.57 million, respectively) on the ￰8￱ Bitcoin ETF (HODL) was the only exchange-traded fund to record any activity on Friday, with a daily net outflow of $9.28 ￰9￱ negative $418.25 million performance amounted to a cumulative $902.5 million net outflow in the past ￰10￱ negative weekly performance marked the end of a streak of four consecutive weeks of positive ￰11￱ the previous two weeks, the US spot Bitcoin ETFs registered more than $3 billion in capital inflows, as the macroeconomic conditions shifted in favor of risk ￰12￱ Price Overview However, the crypto market seems to have cooled off, as seen with the price of Bitcoin over the past ￰13￱ premier cryptocurrency lost over 5% in its value, falling from around $116,000 to beneath the $110,000 level in the last seven ￰14￱ the Bitcoin price struggling at the moment, it is no shock that the Bitcoin ETFs have seen massive withdrawals in the past ￰15￱ of this writing, the price of BTC stands at around $109,690, reflecting no significant movement in the past 24 hours.