๐๐ข๐ญ๐๐จ๐ข๐ง ๐๐๐ ๐จ๐ฎ๐ญ๐๐ฅ๐จ๐ฐ๐ฌ ๐ฌ๐ฎ๐ซ๐ฉ๐๐ฌ๐ฌ $๐๐๐๐ฆ, ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ๐ฌ ๐ฐ๐๐ซ๐ง ๐จ๐ ๐ค๐๐ฒ ๐ฉ๐ซ๐ข๐๐ ๐ฅ๐๐ฏ๐๐ฅ๐ฌ
Bitcoin exchange-traded funds (ETFs) in the U.S. faced significant outflows this week, totaling more than $300 million, as global economic tensions caused short-term market uncertainty. Following a bullish close to September, with inflows exceeding $1.1 billion, around $388.4 million exited the 12-spot Bitcoin ETFs between October 1 and October 3. This coincided with rising geopolitical unrest between Iran and Israel, driving Bitcoin to a weekly low of $60,047.
On October 4, the release of positive U.S. payroll data provided some relief to the market, helping Bitcoin climb back to $62,000. ETF products, in turn, saw an inflow of $25.59 million. However, this late recovery wasnโt enough to offset the three-day outflow trend entirely.
Despite September seeing inflows for three consecutive weeks, totaling around $1.91 billion, the outflows during the first week of October left the funds in negative territory, with a net withdrawal of $301.54 million, according to SoSoValue data.
Looking at individual fund performance, Bitwiseโs BITB saw the highest inflows on the final trading day, while seven of the twelve Bitcoin ETFs, including BlackRockโs IBIT, experienced no activity. Specifically:
โข Bitwiseโs BITB led with $15.29 million in inflows.
โข Fidelityโs FBTC followed closely with $13.63 million.
โข ARK and 21Sharesโ ARKB posted its first inflow for the week, gaining $5.29 million.
โข VanEckโs BTCW also brought in $5.29 million.
โข On the flip side, Grayscaleโs GBTC saw outflows of $13.91 million.
#WeAreAllSatoshi #HBODocumentarySatoshiRevealed #SECAppealRipple