Ethereum

Bitcoin

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-etfs-witness-significant-outflows" data-wpel-link="internal">Bitcoin ETFs Witness Significant Outflows</a><br></p>
<p style="text-align: justify">In the cryptocurrency <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market</a>, <a href="https://en.bitcoinhaber.net/bitcoins-bullish-horizon-analyst-predicts-exciting-prospects-for-2024" data-wpel-link="internal">Bitcoin</a> exhibited considerable volatility yesterday, retreating to the $57,000 mark. It then made an attempt to rise towards $61,000 but couldn’t breach the resistance, slipping back below $59,000. This turbulent movement correlated with significant outflows in spot Bitcoin ETFs. Let’s delve into the details.</p> 
<h2 id="spot-bitcoin-etfs-experience-outflows">Spot Bitcoin ETFs Experience Outflows</h2> 
<p style="text-align: justify">On Thursday, spot Bitcoin exchange-traded funds (ETFs) in the US recorded a net outflow of $71.73 million, marking the continuation of a three-day outflow trend. Notably, BlackRock’s largest spot Bitcoin ETF, IBIT, experienced a negative flow for the first time since May 1, with an outflow of $13.51 million.</p> 
<p style="text-align: justify">Similarly, Grayscale’s GBTC faced an outflow of $22.68 million. Fidelity’s FBTC saw outflows reaching $31.11 million. Bitwise’s BITB fund experienced an outflow of $8.09 million, and Valkyrie’s BRRR ETF had an outflow of $1.68 million.</p> 
<h2 id="current-status-of-spot-ethereum-etfs">Current Status of Spot Ethereum ETFs</h2> 
<p style="text-align: justify">Spot Ethereum ETFs also witnessed minor outflows. US spot Ethereum ETFs reported a net outflow of $1.77 million on Thursday after experiencing positive flows the previous day. Grayscale Ethereum Trust (ETHE) saw a notable outflow of $5.35 million, whereas Grayscale Ethereum Mini Trust (ETH) recorded a net inflow of $3.57 million.</p> 
<p style="text-align: justify">The remaining seven spot Ethereum funds ended the day without any inflows or outflows. The total trading volume for these ETFs dropped to $95.91 million, compared to the previous day’s figure of $151.57 million. Bitcoin was trading at around $58,984 with a 0.3% decline in the past 24 hours, while Ethereum decreased by 0.29% to $2,516.</p> 
<h2 id="key-takeaways">Key Takeaways</h2> 
<ul> 
 <li>The spot Bitcoin ETFs experienced a net outflow of $71.73 million, continuing a three-day trend.</li> 
 <li>BlackRock’s IBIT saw its first negative flow since May 1, with outflows of $13.51 million.</li> 
 <li>Grayscale’s GBTC and Fidelity’s FBTC faced substantial outflows of $22.68 million and $31.11 million, respectively.</li> 
 <li>Spot Ethereum ETFs had a net outflow of $1.77 million, with Grayscale Ethereum Trust seeing a notable outflow of $5.35 million.</li> 
 <li>Total trading volumes for both Bitcoin and Ethereum ETFs saw a significant decrease.</li> 
</ul> 
<p style="text-align: justify">These <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">data</a> points highlight the current investor sentiment and market dynamics in cryptocurrency ETFs, reflecting broader market volatility and investor behavior.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-etfs-witness-significant-outflows" data-wpel-link="internal">Bitcoin ETFs Witness Significant Outflows</a></h5>

Bitcoin ETFs Witness Significant Outflows

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