Net flows into US spot Bitcoin ETFs turned negative as Bitcoin dropped below $62,000 due to tensions between Israel and Iran. BlackRock's iShares Bitcoin Trust (IBIT) gained over $40 million, surpassing $2.1 billion in net buying since January. However, other funds experienced outflows, with Fidelity's FBTC leading with $144 million in redemptions. Overall, US spot Bitcoin ETFs saw net outflows of over $242 million, ending an eight-day streak of inflows. Bitcoin's value dropped over 3% to around $60,300 due to Iran's missile strikes on Israel. The situation could continue to affect investor behavior and lead to further sell-offs. The Crypto Fear and Greed Index also dropped, indicating increased caution among investors.
- Content Editor ( cryptobriefing.com )
- 2024-10-02
US Bitcoin ETFs face setbacks as Bitcoin retreats amid rising Middle East conflicts