{"id":20413,"date":"2024-10-06T20:15:17","date_gmt":"2024-10-06T20:15:17","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=20413"},"modified":"2024-10-06T20:15:17","modified_gmt":"2024-10-06T20:15:17","slug":"bitcoin-etfs-in-the-us-experience-300-million-weekly-outflow-following-three-weeks-of-inflows","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/bitcoin-etfs-in-the-us-experience-300-million-weekly-outflow-following-three-weeks-of-inflows\/","title":{"rendered":"Bitcoin ETFs in the US Experience $300 Million Weekly Outflow Following Three Weeks of Inflows"},"content":{"rendered":"\n

Although Spot Bitcoin ETFs in the U.S. saw inflows on the last day of the week, they ultimately ended with significant outflows. Specifically, these ETFs recorded inflows of $25.59 million on Friday, but overall, they faced $301 million in outflows during the week. This marks the first week of net outflows since September 6, when the total hit $706.19 million.<\/p>\n

<\/span>Recent Performance of Bitcoin ETFs<\/b><\/span><\/h2>\n

Data from SoSoValue<\/a> indicates a notable decline in investor confidence, as U.S. Bitcoin ETFs experienced a striking $301.54 million in outflows. This shift follows changes in market conditions going into October, which caused Bitcoin and other cryptocurrencies to lose most of the gains made in September .<\/p>\n

This outflow comes after a series of three weeks of consistent inflows, with the previous week seeing a net inflow total of $1.11 billion.<\/p>\n

On Friday, the ETFs did manage to collect a net inflow of $25.59 million when Bitcoin’s price climbed back to $62,000. The Bitwise BITB fund and Fidelity FBTC attracted inflows of $15.29 million and $13.63 million, respectively, which helped to offset a $13.91 million outflow from the Grayscale GBTC fund. However, this influx was insufficient to offset the larger trends of outflows throughout the week.<\/p>\n

Starting the week with $61.30 million in inflows, the ETFs quickly turned around, suffering net outflows of $242.53 million, $91.76 million, and $54.13 million on Tuesday, Wednesday, and Thursday, respectively. By the end of the week, the total value of U.S. Spot Bitcoin ETFs was $57.73 billion, reflecting a decline of 5.68% from $61.21 billion recorded on September 27.<\/p>\n

<\/p>\n

<\/span>Net Outflows in Ethereum ETFs<\/b><\/span><\/h2>\n

In a similar trend, Spot Ethereum ETFs also faced net outflows this week, reversing the gains made the week before. Data from SoSoValue<\/a> shows that these Ethereum ETFs had $7.39 million in inflows on the week\u2019s final day, but this amount wasn\u2019t enough to counter earlier losses. Consequently, the week ended with a total net outflow of $30.69 million.<\/p>\n

Moreover, the performance of Spot Ethereum ETFs has lagged behind that of the Spot Bitcoin ETFs for a considerable time. The data indicates that since their introduction, Ethereum ETFs have only had two weeks of inflows, with the last occurrence coming just last week after a stretch of six weeks of outflows.<\/p>\n

At the time of this report, U.S.-based Spot Bitcoin ETFs hold assets worth $57.73 billion, making up 4.68% of the total Bitcoin market capitalization. U.S.-based Spot Ethereum ETFs, on the other hand, hold $6.66 billion in Ethereum, approximately 2.28% of the total Ethereum market cap.<\/p>\n

Image credit: CNBC, chart sourced from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Although Spot Bitcoin ETFs in the U.S. saw inflows on the last day of the week, they ultimately ended with significant outflows. Specifically, these ETFs recorded inflows of $25.59 million on Friday, but overall, they faced $301 million in outflows during the week. This marks the first week of net outflows since September 6, when […]<\/p>\n","protected":false},"author":1,"featured_media":20414,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Bitcoin ETFs in the US Experience $300 Million Weekly Outflow Following Three Weeks of Inflows - Bitrabo","description":"Although Spot Bitcoin ETFs in the U.S. saw inflows on the last day of the week, they ultimately ended with significant outflows. Specifically, these ETFs record"},"footnotes":""},"categories":[316],"tags":[448,2223,3591,561,2811,9156,4783,2604],"class_list":["post-20413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-etfs","tag-inflow","tag-million","tag-outflow","tag-threeweek","tag-us","tag-weekly"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/20413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=20413"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/20413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/20414"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=20413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=20413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=20413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}