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/bitcoin-etf-sees-significant-outflows/" data-wpel-link="internal">Bitcoin ETF Sees Significant Outflows</a><br></p>
<p style="text-align: justify">In the <a href="https://en.coin-turk.com/crypto-market-consolidates-between-58000-and-62000/" data-wpel-link="internal">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a>, Bitcoin experienced a volatile movement yesterday, pulling back to the $57,000 level. Subsequently, BTC made a new move towards $61,000 but failed to break the resistance and fell back below the $59,000 level. The volatile movement also led to outflows in spot Bitcoin ETFs. Let’s look at the numbers.</p> 
<h2 style="text-align: justify" id="outflows-in-spot-bitcoin-etfs">Outflows in Spot Bitcoin ETFs</h2> 
<p style="text-align: justify">Spot Bitcoin exchange-traded funds (ETFs) in the US recorded a net outflow of $71.73 million on Thursday. This continued a three-day outflow streak. BlackRock’s largest spot Bitcoin ETF, IBIT, reported a negative flow for the first time since May 1, with an outflow of $13.51 million.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-384349 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/spot-btc-etf-1.png" alt="" width="1646" height="767"></p> 
<p style="text-align: justify">Grayscale’s GBTC continued this trend with an outflow of $22.68 million. Fidelity’s FBTC saw a net outflow of $31.11 million. Bitwise’s BITB fund had an outflow of $8.09 million, while Valkyrie’s BRRR ETF experienced an outflow of $1.68 million.</p> 
<p style="text-align: justify">On the other hand, Ark and 21Shares’ ARKB fund was the only spot Bitcoin ETF to record a net inflow of $5.34 million. In total, the daily trading volume of 12 spot Bitcoin ETFs fell to $1.64 billion on Thursday, down from the previous day’s figure of $2.18 billion.</p> 
<h2 style="text-align: justify" id="current-status-of-spot-ethereum-etfs">Current Status of Spot Ethereum ETFs</h2> 
<p style="text-align: justify">Spot Ethereum ETFs faced modest outflows. US spot Ethereum ETFs reported a net outflow of $1.77 million on Thursday, following positive flows the previous day. Grayscale Ethereum Trust (ETHE) stood out among these funds with an outflow of $5.35 million. In contrast, Grayscale Ethereum Mini Trust (ETH) recorded a net inflow of $3.57 million.</p> 
<p style="text-align: justify">The other seven spot Ethereum funds ended the day without any inflows or outflows. The total trading volume fell to $95.91 million, down from the previous day’s figure of $151.57 million. Bitcoin, the flagship cryptocurrency, traded at approximately $58,984 with a 0.3% drop in the last 24 hours, while the leading altcoin Ethereum fell by 0.29% to $2,516.</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/bitcoin-etf-sees-significant-outflows/" data-wpel-link="internal">Bitcoin ETF Sees Significant Outflows</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-etf-sees-significant-outflows/" data-wpel-link="internal">Bitcoin ETF Sees Significant Outflows</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin ETF Sees Significant Outflows

Table of Contents

COINTURK NEWS

Other articles published on Aug 30, 2024

El Salvador’s $135M Bitcoin Gamble Now Worth $400M—President Bukele Reflects on Success

Analyst Identifies Bitcoin Price Levels Amid Market Decline

Best Upcoming Crypto Presales Ready to Explode: Insider Secrets for 1000x Returns!

XRP News Today: Analyst Predicts XRP Price Eyes $27

Significant Growth in Bitcoin Mining Revenue for IREN in FY24

Crypto.com Announces Strategic Partnership with Standard Chartered Bank to Expand Global Retail S...

Join our free newsletter for daily crypto updates!