Bitcoin ETFs Bleed: $170M Out the Door as Grayscale and Fidelity Feel the Heat!

By alberdioni8406 | Barraca Crypto | 8 Sep 2024


In one day in the crypto wild west, Bitcoin ETFs are bleeding big. On Sept 6 outflows of more than $170M have been registered with Grayscale seeing $52M going out and $85M from Fidelity product getting dumped in the market.

This is a continuous bloodbath on the market special in the ETF market seeing some big outflows this ending week. On September 5 the Bitcoin ETF products saw a big $211 in outflows and this Friday more $170 million wiped out. Fidelity, Grayscale and Bitwise iShares were the ones most hit on this outflows.

Bitcoin ETF king still Blackrock bagging more than 347,000 Bitcoin at the moment but after several months without seeing outflows they registered some but not compared to the ones Grayscale or nay other product have seen in outflows. This is a growing market ad people look to invest in Bitcoin through this Exchange Traded Funds which give them some sort of security as they are managed by experts hired to protect people's assets.

In this week we saw a bleeding market, where Bitcoin tanked to $55,000 and let's see this coming week what will be the next one. What will see in the coming week? A more up or down price? Let's debate on this. Remember:

"Every time is an opportunity to buy or sell your assets but depends on your methods of trade" - CONTENT IS KING!

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