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US Spot Bitcoin ETFs Open Q4 2024 With $300 Million Weekly Outflows – Details

NewsBTC LogoNewsBTC12h ago

US Spot Bitcoin ETFs Open Q4 2024 With $300 Million Weekly Outflows – Details - NewsBTC

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Related Reading: Ethereum ICO Participant Offloads 6,000 ETH As Bearish Sentiment Intensifies Spot Ethereum ETFs Resume Weekly Negative Flows Alongside the Spot Bitcoin ETFs, the US spot Ethereum ETFs also registered net weekly outflows of $30.69 million in the first week of Q4 2024, representing a return to a negative streak stretching from August 16.  In contrast to their Bitcoin counterparts, the ETH spot ETFs have had a challenging debut with total net outflows of 553.66 million.

Related Reading: US Spot Bitcoin ETFs Become Second-Largest Holder Of BTC Behind Satoshi Spot Bitcoin ETFs Negative Outflows End Three-Week Positive Streak According to data from market tracking platform SoSoValue, the US-based spot Bitcoin ETFs registered a cumulative net outflow of $301.54 million in the first week of Q4 2024, ending a three-week run of positive returns.

According to data shared by analyst Quinten Francois, the spot BTC ETFs occupy the top four positions of successful ETF launches in 2024.  With a Bitcoin bull run on the horizon, these exchange-traded products are certain to receive more interest from institutional investors in the coming weeks.  Currently, the spot BTC ETFs boast a cumulative total net inflow of $18.50 billion with total net assets valued at $57.73 billion thus representing 4.68% of the Bitcoin circulating supply.


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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-06 @ 08:30:35 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 428 words

Reading Time: 3 minutes read

Sentences: 60 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22906917

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 9 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 11 hours ago

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