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BlackRock stands alone as the only ETF to buy Bitcoin on Oct. 1st

BlackRock stands alone as the only ETF to buy Bitcoin on Oct. 1st
The U.S. Bitcoin ETF market experienced a significant selloff on October 1st, with BlackRock's IBIT being the only ETF to attract net inflows, securing over $40 million. Other funds, including Fidelity's FBTC, faced major outflows, with a total of over $242 million being withdrawn. The selloff coincided with rising geopolitical tensions in the Middle East, causing investors to become more risk-averse and volatile in the crypto market. In September, Bitcoin ETFs had seen inflows of approximately $365 million, with BlackRock leading the way. However, the recent market downturn has resulted in Bitcoin's price dropping below $62,000 and the overall crypto market capitalization decreasing by 4.7%. The future outlook remains uncertain.

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