tiprankstipranks
Bitcoin ETFs Face Massive Outflows Amid Middle East Tensions
Market News

Bitcoin ETFs Face Massive Outflows Amid Middle East Tensions

Story Highlights

Institutional investors pulled nearly $243 million from U.S. Bitcoin ETFs on Oct. 1, reversing an eight-day inflow streak, as tensions in the Middle East spooked the market.

Middle East tensions have shaken the crypto market, as Bitcoin ETFs face massive outflows amid rising unrest. Institutional investors pulled nearly $243 million from U.S. spot Bitcoin exchange-traded funds on Oct. 1, according to data from Farside Investors. This move reversed an eight-day streak of inflows totaling $1.4 billion.

Don't Miss our Black Friday Offers:

Leading Bitcoin ETFs Hit Hard

The Fidelity Wise Origin Bitcoin Fund (FBTC) lost $144.7 million—the largest outflow among the ETFs. The ARK 21Shares Bitcoin ETF (ARKB) saw $84.3 million withdrawn. Bitwise Bitcoin ETF (BITB) and VanEck Bitcoin ETF weren’t spared either, experiencing significant outflows of $32.7 million and $15.8 million, respectively.

BlackRock Stands Strong

Defying the trend, BlackRock’s iShares Bitcoin Trust (IBIT) recorded positive flows of $40.8 million, marking its 15th consecutive day without outflows. This suggests that some investors still see a silver lining despite the geopolitical storm.

Bitcoin Price Dips After Iran’s Strike

Bitcoin’s (BTC-USD) price dropped nearly $4,000 following Iran’s missile attack on Israel on Oct. 1, hitting a two-week low of $60,315 before a slight recovery to $61,620, as reported at the time of publication.

Ethereum ETFs See Withdrawals Too

Nine U.S. spot Ethereum (ETH-USD) ETFs weren’t immune, registering combined outflows of $48.6 million. Grayscale’s Ethereum Trust (ETHE) led the decline, shedding $26.6 million. The Fidelity Ethereum Trust (FETH) wasn’t far behind, losing $25 million.

What Is the Price of Bitcoin and Ethereum Right Now?

At the time of writing, Bitcoin and Ethereum are sitting at $61,236 and $2,451, respectively.

Related Articles
Annika MasraniBitcoin ETFs Face Massive Outflows Amid Market Correction
Annika MasraniBitcoin Surges Past $58K While SUI Outperforms Market
Go Ad-Free with Our App