Crypto
Bitcoin ETF Outflows Hit Six-Week High Amid Stagnant Market
The Bitcoin ETF market experienced its largest outflow in six weeks, with a net $389.7 million drained from the 13 US-listed funds in the week of Aug. 10.
This reversal comes after a strong start to August, during which the funds saw a net inflow of $853.5 million. However, this was followed by a significant outflow as investors became more cautious about Bitcoin's price and potential risks.
According to Esme Pau, head of capital markets and policy at blockchain security firm CertiK, 'last week's ETF net outflows reflect the subdued mood in the Bitcoin market.'