CandleFocus Bitcoin and Ethereum ETFs Record Weekly Outflows of $706M as Investor Caution Rises
2024-09-07
Author: Content Editor
US Bitcoin ETFs experienced massive outflows of $170 million, with none seeing any inflows for two consecutive days. Fidelity had the highest outflows, followed by Grayscale, Bitwise, ARK 21Shares, Grayscale Mini, and Valkyrie. This trend of withdrawals has led to concerns about short-term sentiment and declining investments in US Bitcoin ETFs. Ethereum ETFs also saw notable withdrawals of $6 million, primarily from Grayscale. Despite the market retreat, analysts have a positive long-term outlook for both Bitcoin and Ethereum.
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