Bitcoin's Decline Parallels ETF Outflows! Fourth Consecutive Day of Outflows! Here Are the Details
Bitcoin spot ETFs experienced investor outflows for the fourth consecutive day. According to information shared by SoSoValue, a total of $40.46 million in net outflows from Bitcoin spot ETFs occurred on October 20.
Bitcoin Spot ETFs See Net Capital Outflows Over $40 Million for the Fourth Consecutive Day
Data showed that BlackRock’s flagship iShares Bitcoin Trust (IBIT) suffered the largest capital loss with net outflows of $101 million during the day. VanEck’s HODL ETF saw net inflows of $21.16 million, and Bitwise’s BITB ETF saw net inflows of $12.05 million.
With the latest outflows, the total net asset value of Bitcoin spot ETFs stands at $149.66 billion, equivalent to approximately 6.76% of Bitcoin's total market capitalization.
Experts say the recent outflows could be due to short-term profit-taking by investors and macroeconomic uncertainties, but the overall size of the ETF market suggests that institutional demand for Bitcoin remains strong.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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