Rising tensions in the Middle East appear to have spooked institutional investors. Latest developments, spotlight in the United States Bitcoin It caused an outflow of almost $243 million from exchange-traded funds (ETFs).
Eleven U.S. spot Bitcoin ETFs experienced a total outflow of $242.6 million on Tuesday, October 1, according to data from Farside Investors. This figure represents the biggest increase in the last month. Previously, the biggest outflow occurred on September 3, and $288 million was withdrawn from BTC ETFs.
It was also recorded as the third biggest debut day in the last five months, reversing the eight-day uninterrupted inflow trend that reached $494 million on September 27. The biggest outflow occurred from the Fidelity Wise Origin Bitcoin Fund on October 1, with $144.7 million. It was followed by ARK 21Shares Bitcoin ETF with an outflow of $84.3 million.
Bitwise Bitcoin ETFWhile ‘s lost $32.7 million, VanEck Bitcoin ETF lost $15.8 million and Grayscale Bitcoin Trust dropped $5.9 million. No entry or exit was recorded for Invesco, Franklin, Valkyrie, WisdomTree and Grayscale’s Mini Bitcoin Trust funds.
The only positive movement was seen in BlackRock iShares Bitcoin Trust; This fund closed the day with an inflow of $40.8 million on October 1, thus continuing its path for 15 consecutive days without an outflow.
Following Iran’s missile attack on Israel, the spot Bitcoin price fell sharply, losing approximately $4,000 in value. After falling to a two-week low of $60,315, the asset has recovered to $61,620 at the time of writing.
Meanwhile, nine US spot Ether ETFs continued to experience outflows, with a total of $48.6 million withdrawn from these products. Grayscale’s Ethereum Trust led the outflow, losing another $26.6 million on October 1, while Fidelity Ethereum Trust lost a similar $25 million, with these two funds accounting for the bulk of the losses.
