US Spot Bitcoin ETFs Open Q4 2024 With $300 Million Weekly Outflows

Name	Symbol	Market	Market Cap ($)	Algorithm
Flow	FLOWUSD	Crypto	1,095,229,837	Unknown

Name

Symbol

Market

Market Cap ($)

Algorithm

Flow

FLOWUSD

Crypto

1,095,229,837

Unknown

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.032	-4.30%	0.712	0.712	0.713

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.032

-4.30%

0.712

0.713

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.789	0.700	0.747	0.744	0.440000 - 1.70

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.789

0.700

0.747

0.744

0.440000 - 1.70

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	16:57:57	1.70	0.712	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

16:57:57

1.70

0.712

USD

Price x Volume	Volume	Base Symbol	Related Pairs
236,899.71	317,256.55	FLOW	FLOWEUR	FLOWGBP	FLOWBTC

Price x Volume

Volume

Base Symbol

Related Pairs

236,899.71

317,256.55

US Spot Bitcoin ETFs Open Q4 2024 With $300 Million Weekly Outflows – Details

06/10/2024 9:30am

NEWSBTC

Spot Bitcoin ETFs launched the fourth quarter of 2024 on a turbulent note ending the week with a net negative outflow of over $300 million. This development occurred in tandem with Bitcoin’s bearish start to October in which it declined over 6% in the first five days of the month. Related Reading: US Spot Bitcoin ETFs Become Second-Largest Holder Of BTC Behind Satoshi Spot Bitcoin ETFs Negative Outflows End Three-Week Positive Streak According to data from market tracking platform SoSoValue, the US-based spot Bitcoin ETFs registered a cumulative net outflow of $301.54 million in the first week of Q4 2024, ending a three-week run of positive returns. Following a net inflow of $61.30 million on September 30, these investment funds quickly transitioned into a bearish state as Bitcoin’s value fell sharply amid rising geopolitical tensions in the Middle East. This led to three consecutive days of cumulative negative outflows totaling $388.42 million. On Friday, October 4, the spot BTC ETFs returned to a positive trajectory recording gains of $25.59 million but proved largely insufficient in overturning the earlier deficit. However, despite this negative weekly performance, the spot Bitcoin ETFs are still primed to attract massive levels of investments in this quarter in line with the lofty price expectations for Bitcoin. Notably, these investment funds have produced a speculative performance following their launch in January. According to data shared by analyst Quinten Francois, the spot BTC ETFs occupy the top four positions of successful ETF launches in 2024. With a Bitcoin bull run on the horizon, these exchange-traded products are certain to receive more interest from institutional investors in the coming weeks. Currently, the spot BTC ETFs boast a cumulative total net inflow of $18.50 billion with total net assets valued at $57.73 billion thus representing 4.68% of the Bitcoin circulating supply. BlackRock’s IBIT maintains market dominance with total investments of $22.91 billion while Grayscale’s GBTC and Fidelity’s FBTC account for significant market holdings with net assets of $13.75 billion and $11.09 billion, respectively. Related Reading: Ethereum ICO Participant Offloads 6,000 ETH As Bearish Sentiment Intensifies Spot Ethereum ETFs Resume Weekly Negative Flows Alongside the Spot Bitcoin ETFs, the US spot Ethereum ETFs also registered net weekly outflows of $30.69 million in the first week of Q4 2024, representing a return to a negative streak stretching from August 16. In contrast to their Bitcoin counterparts, the ETH spot ETFs have had a challenging debut with total net outflows of 553.66 million. However, they account for 2.28% of the Ethereum market supply with $6.6 billion in total net assets. At the time of writing, Bitcoin trades at $62,062, with Ethereum valued at $2,414. Both assets report negligible price movements in the past day. Featured image from Global Finance Magazine, chart from Tradingview

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