Crypto
Home›Crypto›Bitcoin›Spot Bitcoin ETFs see $389.7 million in weekly net out…
Spot Bitcoin ETFs see $389.7 million in weekly net outflows
Flows turned from $853.5 million of inflows the prior week, as sentiment cooled amid concerns about higher interest rates and slower progress on the Clarity Act.
US-listed spot Bitcoin exchange traded funds recorded their biggest weekly outflows since the end of June, reversing strong inflows seen earlier in August, according to Bloomberg-compiled data cited by LiveMint Markets.
During the week ended August 10, the 13 spot Bitcoin ETFs registered combined net withdrawals of $389.7 million, after $853.5 million of inflows in the previous week.
The renewed selling pressure comes as Bitcoin trades around $63,000, roughly 50% below its October record high, with concerns that the market could face higher interest rates weighing on sentiment.
LiveMint Markets also pointed to limited progress in Washington on the proposed Clarity Act, which aims to set a regulatory framework for the crypto market, plus fallout from a Coldcard-branded offline wallet security incident that raised additional custody concerns.
Latest closeBitcoin $64,381.79 ▲2.5%