bitcoin ETFs Witness Net Outflows Amid Market Uncertainty
Spot Bitcoin exchange-traded funds in the U.S. have seen a reversal in investor interest. According to SoSoValue, these ETFs recorded $902.5 million in net outflows last week.
Investor sentiment weakened due to new Trump tariffs and uncertainty about Federal Reserve rate cuts. The 12 spot Bitcoin ETFs saw $902.5 million in net outflows, ending a four-week inflow streak. Fidelity’s FBTC had the largest outflows at $737.8 million. However, BlackRock’s IBIT and invesco’s BTCO saw inflows of $173.8 million and $10 million, respectively.
Ethereum ETFs also faced challenges,recording $795.56 million in net outflows. Despite this, September is shaping up as a strong month for Bitcoin funds, attracting $2.57 billion in inflows.
Market uncertainty stems from Fed Chair Jerome Powell’s cautious stance on rate cuts and Trump’s new tariffs. These factors have dampened investor enthusiasm.
On a positive note, Bitcoin’s price action on the hourly chart shows a bullish reversal. Analysts say reclaiming the $112k level is crucial for an upside rally. If not, a correction towards $105k is possible.
At press time, Bitcoin was trading at $11,675, up 2.2% in the past 24 hours. For more insights, check crypto.news.
