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US bitcoin spot ETFs (exchange-traded funds) yesterday recorded their worst net outflows since September 3, after $242.6 million left investment products.
That ended his eight-day streak of entries, according to data from btc-spot”>SoSoValue. This comes after btc lost up to 6% of its value amid rising geopolitical tensions in the Middle East after Iran fired ballistic missiles at Israel.
<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/10/US-Bitcoin-Spot-ETFs-Suffer-Worst-Outflows-in-a-Month.jpeg" alt="BlackRock bitcoin ETF IBIT Sees No Inflows for Fifth Day, But Here's the Twist: Guest Post by Coingape News Media | CoinMarketCap”/>
BlackRock's IBIT Is Only Fund Among 12 US Spot bitcoin ETFs to Record Inflows
Despite the sell-off, BlackRock's IBIT ETF stood out as the only fund to record positive inflows, with $40.84 million added during the trading session.
Fidelity's FBTC suffered the largest net outflows during the trading session on Tuesday, with investors withdrawing $144.67 million from the fund. ARKB, the bitcoin spot ETF owned by Ark and 21Shares, recorded its second-highest net outflows and its worst outflows since August 27 after $84.35 million left its reserves.
Funds belonging to Bitwise, VanEck and Grayscale recorded net outflows yesterday. Investors withdrew $32.7 million from Bitwise's BITB, while VanEck's Spot bitcoin ETF suffered net outflows of $15.75 million. Meanwhile, $5.9 million came out of Grayscale's GBTC.
In addition to its bitcoin spot ETF recording the largest outflows of the 12 funds yesterday, Fidelity's ethereum Fund (FETH) also set a new all-time high in daily outflows.
Data from Farside Investors shows that $25 million left FETH on October 1st. These are the highest daily outflows recorded among all US spot eth ETFs, excluding Grayscale's ETHE.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”10.21875″>
ethereum ETF Flow (Million US Dollars) – 2024-10-01
TOTAL NET FLOW: -48.6
ETA: 0
CONQUEST: -25
ETHW: -0.9
CETH: 1.2
ETHV: 2.7
POLAR: 0
AZETA: 0
HER: -26.6
eth: 0
For full details and disclaimers, please visit:https://t.co/FppgUwAthD
– Farside Investors (@FarsideUK) twitter.com/FarsideUK/status/1841323173255561589?ref_src=twsrc%5Etfw”>October 2, 2024
Collectively, the funds followed a flow trend similar to that experienced by their bitcoin counterparts, with outflows of $48.6 million recorded across the 9 issuers.
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