How Did Bitcoin ETFs Perform During Yesterday’s “Carnage”?

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Cryptodnes2024/08/06 11:45

By:Cryptodnes

After August 5, one of the worst days for both crypto and stock markets, many investors chose to move away from risky assets, which affected Bitcoin ETFs in the US.

Bitcoin spot ETFs saw a collective outflow of $168.4 million on August 5 amid ongoing market volatility.

The Grayscale Bitcoin Trust, a prominent crypto investment vehicle, saw outflows totaling $69.1 million.

However, Grayscale’s smaller ETF, often referred to as a mini ETF, saw inflows of $21.8 million. Fidelity’s FBTC, one of the most well-known in the market, saw the largest outflow – $58 million.

JPMorgan Sees Potential in Bitcoin Dip Amid Market Sell-Off

Similarly, ARKB of ARK 21Shares saw a significant outflow of $69 million. Although Cathie Wood’s ARK Investment Management is a strong proponent of cryptocurrencies, the outflows show that even the most bullish investors are reevaluating their positions in response to market dynamics.

BlackRock’s iShares Bitcoin Trust (IBIT) recorded no inflows or outflows, along with BTCO, EZBC, BRRR, and BTCW.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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