HODL

Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin exchange-traded funds recorded significant outflows ending their eight-day inflow streak on Oct. 1 as Bitcoin retreated below $62,000 amid rising tension in the Middle East. 
According to <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank">data </a>from SoSoValue, the 12-spot Bitcoin ETFs saw net outflows of $242.53 million, breaking an inflow streak that had brought <a href="https://crypto.news/bitcoin-etfs-see-eighth-straight-day-of-inflows-with-61-3m-ether-etfs-face-modest-outflows/" target="_blank">$1.42 billion</a> into these funds over the previous eight days. This marked the largest daily outflow since Sept. 3, when $288 million exited Bitcoin ETFs. 
Among the funds, <a href="https://crypto.news/tag/fidelity/" target="_blank">Fidelity</a>’s FBTC led the outflows with $144.7 million withdrawn on Oct. 1, followed by ARK 21Shares’ ARKB, which saw $84.3 million in outflows. Bitwise’s BITB and VanEck’s HODL also experienced notable outflows, losing $32.7 million and $15.8 million, respectively, while Grayscale’s Bitcoin Trust saw a more modest decline of $5.9 million. 
The remaining spot Bitcoin ETFs recorded no outflows on the day. 
Despite the outflows, trading volume across the 12 Bitcoin ETFs surged, reaching $2.53 billion on Oct. 1. Since their launch, these funds have attracted a cumulative total of $18.62 billion in net inflows, highlighting sustained interest despite recent volatility. 
 You might also like: <a rel="" href="https://crypto.news/analyst-bitcoin-etf-inflows-surge-over-1b-last-week-miners-see-rally/"> Analyst: Bitcoin ETF inflows surge over $1b last week, miners see rally </a> 
The sharp outflows in Bitcoin ETFs were closely <a href="https://crypto.news/bitcoin-crypto-down-4-as-israel-iran-conflict-escalates/" target="_blank">tied to geopolitical events</a>. As news of Iran’s missile strikes on Israel broke, Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) price fell over 3.7%, shedding nearly $4,000 within 24 hours. The cryptocurrency hit a two-week low of around $60,315 before rebounding to approximately $61,500 at the time of writing. 
This decline in Bitcoin’s price was accompanied by a shift in market sentiment, as reflected in the Crypto Fear and Greed Index. The index <a href="https://alternative.me/crypto/fear-and-greed-index/" target="_blank">dropped</a> from a neutral reading of 50 to a fear level of 42, indicating growing investor caution in the face of heightened geopolitical risks. 
<h2 class="wp-block-heading" id="spot-ether-etfs-also-see-outflows">Spot Ether ETFs also see outflows</h2> 
Meanwhile, U.S. spot Ether ETFs continued to experience outflows, with a total of<a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank"> $48.52 million</a> leaving these products on Oct. 1. Grayscale’s Ethereum Trust led the outflows, shedding $26.6 million, while Fidelity’s Ethereum Trust saw $25 million withdrawn. 
Bitwise’s ETHW experienced more modest outflows of $895.65K. The remaining spot Ether ETFs remained neutral on the day. 
Ether ETFs also saw a rise in trading volume, increasing to $290 million on Oct. 1, up from $147.9 million the previous day. Since their launch, these products have recorded cumulative net outflows of $572.31 million. 
At the time of publication, Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank">ETH</a>) was down 6.3%, trading at approximately $2,474, as the broader cryptocurrency market continued to face pressure from geopolitical events and investor uncertainty. 
 Read more: <a rel="" href="https://crypto.news/metaplanet-pushes-bitcoin-holdings-past-500-btc-with-latest-buy/"> Metaplanet pushes Bitcoin holdings past 500 BTC with latest buy </a>

Spot Bitcoin ETFs record outflows of $242.6m as Bitcoin retreats below $62k

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