U.S. Bitcoin ETF posts $1.2 billion net outflow this week… two consecutive weeks
Summary
- It reported that approximately $1.22 billion in net outflows occurred from U.S. Bitcoin (BTC) spot ETFs this week.
- About $560 million was net withdrawn in a single day this week, and it said that BlackRock IBIT's market dominance has also somewhat weakened.
- U.S. Ethereum spot ETFs also recorded approximately $500 million in net outflows this week.
U.S. Bitcoin (BTC) spot exchange-traded funds (ETFs) have recorded net outflows of $1.2 billion (about 1.75 trillion won) so far this month.
On the 9th, on-chain analytics firm SoSoValue reported that approximately $1.22 billion was net withdrawn from U.S. Bitcoin spot ETFs this week (3–7). Following last week (-$800 million), this marks two consecutive weeks of weekly net outflows.
In particular, about $560 million was withdrawn in a single day on the 7th. The Block said, "the largest daily net outflow since August 1 this year," and added that "BlackRock IBIT's market dominance has also somewhat weakened."
Meanwhile, U.S. Ethereum spot ETFs recorded about $500 million in net outflows this week. Last week ($16 million) they recorded net inflows, but they returned to net outflows after one week.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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