Bitcoin ETFs Experience Record Outflows Amidst Price Drop

• The 11 US-based spot Bitcoin ETFs experienced net outflows of $1.2 billion in eight days.
• These outflows mark the longest streak of withdrawals since the ETFs launched in January.
• Bitcoin's price drop in September contributed to the outflows.
• Historically, September has been a challenging month for BTC performance.
• Despite the outflows, crypto dominates the ETF space, with Bitcoin-based ETFs leading the way.
• Financial adviser Suze Orman believes Bitcoin ownership will increase as younger investors enter the market.

Summary :
In the span of eight days, the 11 United States-based spot Bitcoin exchange-traded funds (ETFs) experienced a combined net outflow of $1.2 billion. This marks their longest streak of outflows since their launch in January. The outflows coincided with a drop in the price of Bitcoin, which fell by 17.28% in just two weeks. September has historically been a challenging month for Bitcoin, leading to the use of terms like "Rektember" to describe the poor performance. Despite these short-term dips, financial adviser Suze Orman believes that Bitcoin will continue to be an attractive investment for younger generations, potentially driving up its price. In the ETF space, crypto has dominated, with the four biggest launches in 2024 being spot Bitcoin ETFs. Among the top 25 ETF launches by inflows, 13 are related to crypto, with 10 being Bitcoin-based ETFs and three being Ethereum-related funds. Despite the success of crypto ETFs, there are concerns about the security of platforms like Coinbase, which has been described as a "honeypot" for hackers and governments.

Sources :

- CoinTelegraph