{"id":136727,"date":"2024-09-04T12:00:06","date_gmt":"2024-09-04T09:00:06","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136727"},"modified":"2024-09-04T11:41:16","modified_gmt":"2024-09-04T08:41:16","slug":"bitcoin-etfs-see-major-outflows-following-labor-day","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-etfs-see-major-outflows-following-labor-day\/","title":{"rendered":"Bitcoin ETFs See Major Outflows Following Labor Day"},"content":{"rendered":"<p>This marked the fifth day in a row of net outflows, totaling over $750 million in withdrawals since the previous week.<\/p>\n<p>The market after Labor Day saw significant selling pressure, as 8 of the 11 <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a><\/strong> funds posted losses. Grayscale\u2019s GBTC fund saw over $50 million in withdrawals, while Fidelity\u2019s FBTC fund had $162 million pulled out, marking its second-highest outflow since it was launched.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2024\/09\/03235221\/US-Bitcoin-ETF-Flows-Sep-3.jpg\" width=\"732\" height=\"521\"><\/p>\n<p>Other Bitcoin ETFs, including those from ARK Invest, Bitwise, Franklin Templeton, VanEck, Valkyrie, and Invesco, also recorded net outflows. On the other hand, funds from BlackRock, WisdomTree, and Grayscale\u2019s BTC remained stable, with no major inflows or outflows.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/bitcoin-set-for-massive-surge-analyst-sees-parallels-with-historic-japanese-market-boom\/\" title=\"Bitcoin Set for Massive Surge? Analyst Sees Parallels with Historic Japanese Market Boom\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-investing-cryptocurrency-altcoin-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Bitcoin Set for Massive Surge? Analyst Sees Parallels with Historic Japanese Market Boom<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Grayscale\u2019s GBTC fund is nearing a significant threshold, with total outflows soon expected to reach $20 billion, based on data from Farside Investors. Despite a recent slowdown in the pace of selling, capital continues to flow out of the fund. The decline in Bitcoin prices has reduced Grayscale\u2019s assets under management to roughly $13 billion.<\/p>\n<p>Some of the withdrawals from GBTC are linked to bankrupt crypto companies from 2022 and 2023, which held Grayscale shares and sold them off to repay creditors. Grayscale CEO Michael Sonnenshein mentioned that this selling activity picked up once the Trust converted to an ETF.<\/p>\n<p>Meanwhile, Grayscale has lost its top spot in the Bitcoin ETF market to BlackRock, whose IBIT ETF has grown to nearly $21 billion in assets, making it the largest Bitcoin ETF globally.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the start of September, U.S. spot Bitcoin ETFs faced a sharp decline, with about $288 million pulled out yesterday, according to Farside Investors.<\/p>\n","protected":false},"author":3,"featured_media":2580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-136727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 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