Spot Bitcoin ETFs see $82.39 million in outflows in one day
U.S. spot Bitcoin ETFs recorded net outflows of around $82.39 million on October 16, according to data reported by TokenPost, citing SoSoValue.
BlackRock's IBIT was responsible for outflows of around $71.78 million, while Fidelity's FBTC recorded outflows of around $10.61 million.
What is the potential impact?
ETF flows are monitored to gauge institutional investors' interest in Bitcoin. Continued outflows could limit demand, but a single day of outflows is not enough on its own to confirm a long-term downward trend. $BTC
#BinanceTurns8 #BTC #Bitcoin
U.S. spot Bitcoin ETFs recorded net outflows of around $82.39 million on October 16, according to data reported by TokenPost, citing SoSoValue.
BlackRock's IBIT was responsible for outflows of around $71.78 million, while Fidelity's FBTC recorded outflows of around $10.61 million.
What is the potential impact?
ETF flows are monitored to gauge institutional investors' interest in Bitcoin. Continued outflows could limit demand, but a single day of outflows is not enough on its own to confirm a long-term downward trend. $BTC
#BinanceTurns8 #BTC #Bitcoin