By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoXTimesCryptoXTimes
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Notification Show More
Font ResizerAa
CryptoXTimesCryptoXTimes
Font ResizerAa
  • Home
  • News
  • Cryptocurrency
  • Advertise
  • Contact Us
Search
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Have an existing account? Sign In
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
CryptoXTimes > Article > News > Bitcoin ETFs Face $1.2 Billion Withdrawals
NewsBitcoin News

Bitcoin ETFs Face $1.2 Billion Withdrawals

Bitcoin ETFs see $1.2B outflows; price drops.

Nayab Fatima
Last updated: September 9, 2024 1:56 pm
Nayab Fatima 9 months ago
Share
Bitcoin ETFs Face $1.2 Billion Withdrawals

Bloomberg data reported September 9 shows that large amounts of funds have been taken out of Bitcoin exchange-traded funds (ETFs) over the past eight days, totaling $1.2 billion. The funds left the ETFs from August 30 to September 6. 

This was the longest stretch of withdrawals in a row since the ETFs started trading on January 10. Early in September, the price of Bitcoin dropped sharply. On August 26, it was worth $64,668, but by September 7, it was only worth $53,491, a drop of 17.28% in just two weeks. 

Bitcoin ETFs Lead Launches

Analysts say that Bitcoin has generally done poorly in September, which is why the month is sometimes called “Rektember,” and people look forward to a recovery in October, which is called “Uptober.” Even with these latest withdrawals, cryptocurrency ETFs have done better than other new ETFs that came out in 2024.

This year, the four major ETF launches were all spot Bitcoin ETFs. These are the iShares Bitcoin Trust from BlackRock, the Wise Origin BTC Fund from Fidelity, the ARK 21Shares BTC ETF, and the BTC ETF Trust from Bitwise.

This year, 13 of the top 25 ETF launches by inflows are linked to crypto. Ten of them are focused on BTC , and three are on Ethereum. The iShares Ethereum Trust ETF became the seventh-largest ETF launch of 2024 when it raised more than $1 billion in August.

Suze Orman, a financial adviser, is still positive about BTC future. She says that as younger investors get richer, BTC will likely become a more popular investment, which could drive up its price.

You Might Also Like

PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy

Telegram Integrates Elon Musk’s Grok AI in $300M Deal

Berachain Transactions Tumble, Fee Revenues Cut In Half

Trump Media Launches $2.5B Crypto Investment Strategy

$BONK Surges 4% as Breakout Above $0.000021 Nears

TAGGED: Bitcoin, BTC, Crypto, ETF
Previous Article Crypto Fraud Exposed By Ripple's David Schwartz Crypto Fraud Exposed By Ripple’s David Schwartz
Next Article Terra Luna Classic Readies For Tax2Gas Implementation Terra Luna Classic Awaits Massive USTC Token Burn
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
TwitterFollow
TelegramFollow
LinkedInFollow

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy
PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy
Iceland PM Shifts Energy from Bitcoin to Agriculture
Iceland PM Shifts Energy from Bitcoin to Agriculture
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch

You Might Also Like

XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz
Altcoin NewsNews

XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz

By Muhammad Ali 4 weeks ago
MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension
CryptoNews

MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension

By Haider Ali 4 weeks ago
XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments
NewsCrypto

XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments

By Nayab Fatima 4 months ago
Shibarium Hits 912M Transactions as SHIB Burn Rate Skyrockets
NewsCrypto

Shibarium Hits 912M Transactions as SHIB Burn Rate Skyrockets

By Rubab Fatima 4 months ago
CryptoXTimesCryptoXTimes
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
  • About Us
  • Careers
  • Privacy Policy
  • Risk Disclaimer
Welcome Back!

Sign in to your account

Lost your password?