US Spot Bitcoin ETFs See First Outflows in Seven Sessions, Ether ETFs Extend Inflow Streak
Quick Look
- US-listed spot Bitcoin ETFs recorded $225.2 million in net outflows on Thursday, ending a seven-session inflow streak, though weekly inflows remained positive.
- This occurred as Bitcoin briefly fell below $65,000 amid US-Iran tensions.
- Meanwhile, spot Ether ETFs extended their inflow streak to five days.
AI-generated summary
Why It Matters
US-listed spot Bitcoin ETFs had attracted nearly $1 billion in net inflows over the last seven trading sessions before Thursday's outflows. Bitcoin's market sentiment had also weakened, with the Crypto Fear & Greed Index in "fear" territory.
US-listed spot Bitcoin exchange-traded funds (ETFs) ended a seven-session inflow streak on Thursday, marking their first day of net outflows since July 13.
Spot Bitcoin ETFs recorded $225.2 million in net outflows on Thursday, attracting nearly $1 billion in net inflows over the last seven trading sessions, according to SoSoValue.
Despite Thursday’s outflows, the funds had still attracted about $274 million in net inflows this week as of Thursday.
The outflows came as Bitcoin briefly slipped below $65,000 after US stocks fell amid renewed tensions between the US and Iran. Bitcoin traded at $65,403 at the time of publication after falling as low as $64,600, according to CoinGecko.
Bitcoin market sentiment also weakened, with the Crypto Fear & Greed Index falling 3 points to 28 and remaining in “fear” territory on Friday, according to Alternative.me.
Meanwhile, US-listed spot Ether ETFs extended their inflow streak to five, attracting a net $26.3 million on Thursday, according to SoSoValue.
Open Questions
- Will Bitcoin ETF outflows continue?
- How will Bitcoin's price react in the coming days?
- Will Ether ETFs maintain their inflow streak?
