[2024-10-04] ETFs for Bitcoin and Ethereum Suffer Major Withdrawals

[CoinTürk]

Recent reports highlight a concerning trend in the U.S. regarding spot Bitcoin and Ethereum exchange-traded funds (ETFs), which have faced significant net outflows. On Thursday alone, net withdrawals amounted to $54.13 million for Bitcoin ETFs, contributing to a staggering total of over $388 million over the past three days. The ARKB fund from Ark Invest and 21Shares led the outflow with $57.97 million, while Fidelity’s FBTC fund experienced a $37.21 million withdrawal.

Read the full article here: https://en.bitcoinhaber.net/etfs-for-bitcoin-and-ethereum-suffer-major-withdrawals

[_act_]

But why are people really posting about spot bitcoin ETF inflow and outflow? Blackrock and others that are providing the ETF are not selling the coins. Or are they selling the coins?

What that is really responsible for the price if bitcoin directly us the buying and selling of the coins on exchanges.

[cr1776]

I'm not so sure it is a "staggering" amount, but it has been an ebb and flow since they were approved (well, maybe after the first few months after they were approved).  Short term, sure, it might matter to the price what the daily or weekly flows are but over the course of months or a year or two it seems clear that the flow has been in vs out. 

Things like Iran attacking Israel definitely scare short term traders which gives people who want to invest to protect themselves and the products of their lives better entry points.  :-)