Bitcoin ETF

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-withdraw-significant-funds-from-spot-bitcoin-etfs/" data-wpel-link="internal">Investors Withdraw Significant Funds from Spot Bitcoin ETFs</a><br></p>
<p style="text-align: justify">According to <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> provided by SoSoValue, there was a net outflow of $89.73 million from spot Bitcoin ETFs on the last trading day of the week, August 9. The outflows from spot ETFs followed the largest cryptocurrency’s rapid recovery from $48,800 on Monday to above the $60,000 threshold, causing the upward trend to pause.</p> 
<h2 style="text-align: justify" id="strong-grayscale-s-spot-etf-leads-with-76-99-million-outflow-strong"><strong>Grayscale’s Spot ETF Leads with $76.99 Million Outflow</strong></h2> 
<p style="text-align: justify">Grayscale’s flagship ETF, GBTC (Grayscale Bitcoin Trust), led the outflows with $76.99 million. This outflow from GBTC constitutes a significant portion of the total net outflows from spot Bitcoin ETFs. The primary reason for this is attributed to <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>‘ continued tendency to distance themselves from Grayscale’s product or to take profits.</p> 
<p><img decoding="async" class="aligncenter size-full wp-image-378559" src="https://coin-turk.com/wp-content/uploads/2024/08/Spot-Bitocin-ETF.png" alt="" width="1242" height="932"></p> 
<p style="text-align: justify">It is known that GBTC was a preferred investment vehicle for institutional and individual investors wanting indirect exposure to Bitcoin for a long time, but it was converted to a spot ETF on January 10, 2024, following the SEC’s approval.</p> 
<p style="text-align: justify">In contrast, Grayscale’s mini spot Bitcoin ETF, BTC, saw an inflow of $15.61 million. This indicates that some investors are leaning towards a smaller-scale and possibly more flexible investment vehicle. Grayscale’s mini ETF offers investors access to Bitcoin with lower transaction fees.</p> 
<p style="text-align: justify">Fidelity’s spot Bitcoin ETF, FBTC, ranked second with a $19.85 million outflow, followed by Bitwise’s spot Bitcoin ETF, BITB, with an $18.14 million outflow.</p> 
<h2 style="text-align: justify" id="strong-blackrock-s-spot-bitcoin-etf-ibit-sees-continued-inflows-strong"><strong>BlackRock’s Spot Bitcoin ETF IBIT Sees Continued Inflows</strong></h2> 
<p style="text-align: justify">On the other hand, BlackRock’s spot Bitcoin ETF, IBIT, saw an inflow of $9.65 million. The interest in BlackRock’s spot ETF particularly highlights the continued attraction of institutional investors to the fund.</p> 
<p style="text-align: justify"><strong>BlackRock</strong> is currently the largest issuer of spot Bitcoin ETFs by the amount of BTC held in its fund, continuously increasing its influence on the <a href="https://en.coin-turk.com/crypto-leaders-observe-shift-to-stablecoins-in-africa/" data-wpel-link="internal">cryptocurrency market</a>.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-withdraw-significant-funds-from-spot-bitcoin-etfs/" data-wpel-link="internal">Investors Withdraw Significant Funds from Spot Bitcoin ETFs</a></h5>
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Investors Withdraw Significant Funds from Spot Bitcoin ETFs

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