The negative streak in terms of flows for the spot Bitcoin ETFs continued in the past week and has now become the longest since those products were greenlighted in mid-January.<\/p>\n
At the same time, the Ethereum counterparts still see little activity, with investors\u2019 demand and interest obviously missing.<\/p>\n
CryptoPotato<\/em> reported<\/a> last weekend the substantial outflows of $277.2 million registered in the prior five-day trading period. The landscape only worsened in the past week, even though September 2 was a national holiday in the States.<\/p>\n For the four-day trading week, investors pulled out $287.8 million on Tuesday, $37.2 million on Wednesday, $211.1 million on Thursday, and $170 million on Friday. Fidelity\u2019s FBTC was the biggest loser, leading the adverse trend in three out of the four days.<\/p>\n Overall, $706.1 million left the US spot Bitcoin ETFs within this timeframe. Moreover, this extended the negative streak to eight consecutive days in the red, which has now become the longest.<\/p>\n Aside from the previous Monday (August 26), when investors allocated $202.6 million in the ETFs, all subsequent trading days have been in the red. This means that the overall outflows within the past two weeks alone have been close to $900 million.<\/p>\n Consequently, the total AUM has fallen below $50 billion for the first time since May 1. As such, it\u2019s safe to assume that the ETF outflows are among the most probable reasons<\/a> behind BTC\u2019s price decline of 7% in the past week.<\/p>\n U.S BASED SPOT #BITCOIN<\/a> ETF AT LOWEST LEVEL SINCE MAY 1.<\/p>\n After a bearish week for the prices of many crypto tokens\u2014only three of the top 50 tokens by market cap gained on the week, the value of U.S.-based spot bitcoin and spot Ethereum exchange-traded funds have hit new\u2026 pic.twitter.com\/0in9Ogy1XJ<\/a><\/p>\n \u2014 Karan Singh Arora (@thisisksa) September 8, 2024<\/a><\/p>\n\n While the spot Bitcoin ETF flows are quite volatile, the same cannot be said about the Ethereum counterparts. The second-largest cryptocurrency is yet to capture investors\u2019 interest and demand.<\/p>\n Tuesday was the worst day in terms of outflows, with $47.4 million leaving the ETH funds. $37.5 million was pulled out on Wednesday, while Thursday and Friday saw minimal activity, with $0.2 and $6 million in outflows.<\/p>\n Recall that there was zero reported activity last Friday, while the outflows have dominated<\/a> in 11 out of the last 13 trading days.<\/p>\n The post Weekly ETF Recap: Bitcoin Sees Longest Negative Streak, Ethereum Demand Missing<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The negative streak in terms of flows for the spot Bitcoin ETFs continued in the past week and has now become the longest since those products were greenlighted in mid-January. At the same time, the Ethereum counterparts still see little activity, with investors\u2019 demand and interest obviously missing. Bitcoin ETFs\u2019 Negative Streak CryptoPotato reported last […]<\/p>\n","protected":false},"author":0,"featured_media":4642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4641"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4641"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/4642"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ETH ETFs Lack Demand<\/h2>\n