{"id":257413,"date":"2024-08-28T13:01:13","date_gmt":"2024-08-28T13:01:13","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/28\/bitcoin-etfs-saw-the-largest-outflow-in-over-three-weeks\/"},"modified":"2025-06-25T17:11:44","modified_gmt":"2025-06-25T17:11:44","slug":"bitcoin-etfs-saw-the-largest-outflow-in-over-three-weeks","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/28\/bitcoin-etfs-saw-the-largest-outflow-in-over-three-weeks\/","title":{"rendered":"Bitcoin ETFs Saw the Largest Outflow in Over Three Weeks"},"content":{"rendered":"

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U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $127 million in net outflows on Tuesday, marking the largest single-day withdrawal since Aug. 6. The outflow ended an eight-day streak of positive inflows totalling $756 million.<\/p>\n

On Tuesday, the Bitcoin ETF<\/a> offering from Ark Invest saw the biggest outflow, at $102 million. Grayscale’s Bitcoin Trust and Bitwise’s Bitcoin ETF also posted net outflows of $18 million and $7 million, respectively.<\/p>\n

BlackRock’s<\/a> Bitcoin ETF saw no inflows after a $224 million inflow on Monday<\/a>, its largest in over a month, while Fidelity’s and other Bitcoin ETFs also saw no changes in inflows or outflows.<\/p>\n

The largest contributor to yesterday’s outflows seems to have been investors’ profit-taking after Bitcoin surged past $60,000 early this week. Since then, Bitcoin has pulled back around 10% below $60,000 upon this news.<\/p>\n

The ETF outflows came as leading financial institutions expanded their bitcoin product offerings. On Tuesday, CME Group launched a new Bitcoin futures contract aimed at retail traders. Nasdaq also filed<\/a> for regulatory approval of Bitcoin index options.<\/p>\n

The ongoing development of regulated Bitcoin investment vehicles highlights increasing mainstream demand. While spot Bitcoin ETFs<\/a> saw outflows this week, the overall trajectory points to growing institutional adoption.<\/p>\n

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[ad_1] U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $127 million in net outflows on Tuesday, marking the largest single-day withdrawal since Aug. 6. The outflow<\/p>\n","protected":false},"author":1,"featured_media":257414,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[172],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/257413"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=257413"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/257413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/257414"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=257413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=257413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=257413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}