The post US ETFs Sector Experiences Massive Outflows of $90M from BTC and $16M from ETH appeared on BitcoinEthereumNews.com.

On the 9th of August, the Bitcoin and Ethereum exchange-traded funds in the United States went through huge outflows. Spot On Chain, a popular on-chain analytics platform stated that the massive outflows of up to $16M and $90M from ETH and BTC ETFs indicate a cautious shift in the crypto market regarding investor sentiment. The analytics provider took to its official social media account to provide the details of the ETF flows. 🚨 US #ETF 09 AUG: 🔴$90M to $BTC and 🔴$16M to $ETH 🌟 BTC ETF UPDATE (final): -$90M • The 10 US Bitcoin ETFs saw a total outflow of $177M this week (outflows on 3/5 trading days). • 3 big ETFs, including BlackRock (IBIT), Fidelity (EBTC), and Bitwise (BITB), all saw sharp… pic.twitter.com/mtP1tLEPEy — Spot On Chain (@spotonchain) August 10, 2024 US ETFs World Sees Huge Outflows from Bitcoin and Ethereum In its recent X post, the analytics company pointed out that the Bitcoin exchange-traded funds incurred an outflow of nearly $90M. However, a couple of BTC ETFs witnessed inflows on the same day. In this respect, Grayscale Mini (BTC) recorded net inflows of almost $15.6M. Additionally, BlackRock (IBIT) effectively added $9.6M in terms of inflows on August 9. However, none of the other Bitcoin ETFs saw any inflows. The ETFs with $0 inflows include WisdomTree (BTCW), ARK 21Shares (ARKB), VanEck (HODL), Invesco (BTCO), Valkyrie (BRRR), and Franklin (EZBC). Apart from these Bitcoin ETFs 3 BTC exchange-traded funds witnessed outflows. These ETFs take into account Bitwise (BITB), Fidelity (FBTC), and Grayscale (GBTC) with $18.1M, 19.8M, and $77M in outflows. During the recent week, the ten BTC ETFs in the US recorded cumulative outflows of up to $177 million. They saw these outflows in 3 out of five trading days. On the other hand, Ethereum ETFs went through an…

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Filed under: News - @ August 11, 2024 10:14 am