$BTC : Bitcoin ETFs See $1.3 Billion Weekly Outflows, Largest Since June
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U.S. spot Bitcoin ETFs (exchange-traded funds) recorded $1.28 billion in net outflows last week, marking their largest weekly withdrawals since late June.
• The heavy redemptions pushed year-to-date net outflows for the funds to approximately $919 million, according to data.
• This followed $515 million in net outflows during October, extending a period of sustained investor caution.
• Bitcoin slipped below $76,000 during the week as markets absorbed several overlapping pressures, including the aftermath of Binance’s $6.3 billion security incident, uncertainty following the U.S. midterm elections, and a broader sell-off in technology stocks.
• The fund saw $1.21 billion in net outflows, representing roughly 95% of the total reported data, according to data from Farside Investors.
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© Bitcoinist
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U.S. spot Bitcoin ETFs (exchange-traded funds) recorded $1.28 billion in net outflows last week, marking their largest weekly withdrawals since late June.
• The heavy redemptions pushed year-to-date net outflows for the funds to approximately $919 million, according to data.
• This followed $515 million in net outflows during October, extending a period of sustained investor caution.
• Bitcoin slipped below $76,000 during the week as markets absorbed several overlapping pressures, including the aftermath of Binance’s $6.3 billion security incident, uncertainty following the U.S. midterm elections, and a broader sell-off in technology stocks.
• The fund saw $1.21 billion in net outflows, representing roughly 95% of the total reported data, according to data from Farside Investors.
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© Bitcoinist
