Bitcoin spot ETF sees strong capital outflow, which has continued for a week.
As of October 24, the net outflow of these products totaled $1.74 billion.
Data from Farside Investors shows that the spot BTC ETF has seen the largest capital outflow in two weeks since its approval in the United States. During this period, investors withdrew a net total of $110 million from these funds.
Overall, digital asset investment products saw a consecutive second week of outflow totaling $58.4 billion.
Investors’ pessimism about the possibility of a Fed rate cut seems to be one of the reasons for this situation, according to a report on CoinShares.
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Last week, the global exchange-traded product (ETP) trading volume also hit its lowest level since the launch of the U.S. ETF in September, totaling only $9 billion this week.
The United States saw the most outflow of funds, totaling $47.5 billion, while Canada also saw a significant outflow of $10.9 billion. Germany and Hong Kong reported outflows of $240,000 and $190,000 respectively. However, Switzerland and Brazil saw inflows of $390,000 and $485,000 respectively.
The largest outflow for Bitcoin was $6.3 billion, but despite the negative sentiment, short positions did not increase.
Ethereum also faced a total outflow of $580,000.
