Bitcoin ETF

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Last week, Bitcoin ETFs recorded total outflows of $277 million.</li> 
 <li>BTC is now trading above $57,000, down by over 9% in the past 7 days.</li> 
</ul> 
<p>During the past week, starting August 26 to August 30, Bitcoin ETFs in the US recorded total outflows of $277 million.</p> 
<p>According to the latest data from SoSoValue, the only day in which the US-based Bitcoin ETFs recorded inflows was August 26 when the crypto products saw influxes of $202.5 million.</p> 
<figure id="attachment_49728" aria-describedby="caption-attachment-49728" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/09/download.png"><img loading="lazy" decoding="async" class="wp-image-49728 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/09/download.png" alt="SoSoValue data" width="513" height="443" title="Bitcoin Price Above $57K, As BTC ETFs Record $277M Weekly Outflows 18"></a>
 <figcaption id="caption-attachment-49728" class="wp-caption-text">
  SoSoValue data
 </figcaption>
</figure> 
<h2 id="4-consecutive-btc-etf-outflow-days-last-week">4 Consecutive BTC ETF Outflow Days Last Week</h2> 
<p>Last week, Bitcoin ETFs saw 4 consecutive days of outflows from August 27 to August 30 as follows:</p> 
<ul> 
 <li>August 27: BTC ETFs recorded $127.05 million in outflows.</li> 
 <li>August 28: BTC ETFs recorded $105.1 million in outflows.</li> 
 <li>August 29: BTC ETFs recorded $71.7 million in outflows.</li> 
 <li>August 30: BTC ETFs recorded over $175.6 million in outflows.</li> 
</ul> 
<p>The Bitcoin ETF with the largest net outflows last week was Ark Invest and 21Shares’s BTC ETF, ARKB with a net outflows of $220 million. Also, Grayscale’s Bitcoin ETF, GBTC, recorded a weekly net outflow of $119 million.</p> 
<p>Last week also marked the second time when BlackRock’s Bitcoin ETF, IBIT, saw outflows since its launch back in January 2024. On August 29, the crypto product saw<a href="https://crypto.ro/en/news/blackrock-bitcoin-etf-recorded-2nd-outflow-since-inception/"> $13.5 million</a> in outflows.</p> 
<p>After that, on August 30, BlackRock’s crypto product did not see any inflows or outflows.</p> 
<p>On Friday, no Bitcoin ETF in the US recorded inflows, and the crypto product with the highest outflows for the day was Grayscale’s GBTC, with over $70 million, followed by ARK Invest and 21Shares’ ARKB which saw over $65 million in outflows, according to<a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank"> SoSoValue</a> data.</p> 
<p>As BTC ETFs saw outflows during the past week, the price of Bitcoin also recorded a significant decline of 9% in the past 7 days.</p> 
<h2 id="bitcoin-is-trading-above-57-000">Bitcoin is Trading Above $57,000</h2> 
<p>At the moment of writing this article, Bitcoin is trading above $57,000, down by almost 1% in the past 24 hours.&nbsp;The coin saw a drop in price from September 1 when it was trading above $58,000.</p> 
<p>After trading above $60,000 since August 21, and reaching prices close to $65,000 on August 26, the coin’s price dropped below $60,000 on August 28.</p> 
<figure id="attachment_49729" aria-describedby="caption-attachment-49729" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1M_graph_coinmarketcap.jpeg"><img loading="lazy" decoding="async" class="wp-image-49729 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/09/BTC_1M_graph_coinmarketcap.jpeg" alt="BTC price in USD this month " width="1200" height="800" title="Bitcoin Price Above $57K, As BTC ETFs Record $277M Weekly Outflows 19"></a>
 <figcaption id="caption-attachment-49729" class="wp-caption-text">
  BTC price in USD this month
 </figcaption>
</figure> 
<p>On August 5, also known as the Crypto Black Monday, BTC recorded its price drop below the important level of $50,000.</p> 
<p>As BTC began the month with a price decline, there are multiple events and key speeches this week that could <a href="https://crypto.ro/en/news/top-6-events-this-week-potentially-affecting-bitcoin-price/">affect</a> the coin’s price trajectory.</p>

Bitcoin Price Above $57K, As BTC ETFs Record $277M Weekly Outflows

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