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 Other funds, including Fidelity's FBTC, faced major outflows, with a total of over $242 million being withdrawn.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.
- Content Editor ( cryptopolitan.com )
- 2024-10-03
BlackRock stands alone as the only ETF to buy Bitcoin on Oct. 1st