Bitcoin spot ETF recorded a net outflow of 194 million USD on August 21, with mixed trends among major funds.
The total net asset value of Bitcoin spot ETF reached 144.481 billion USD, accounting for 6.45% of the total Bitcoin market value, with cumulative capital exceeding 53.8 billion USD.
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Bitcoin spot ETF had a net outflow of 194 million USD in one day, primarily focused on Blackrock's fund.
Grayscale Bitcoin Mini Trust attracted new cash flow with a total accumulation of 1.716 billion USD.
The ETF ratio to total Bitcoin value reached 6.45% with a total cumulative capital of up to 53.823 billion USD.
How did the Bitcoin spot ETF fluctuate on August 21?
Bitcoin spot ETF witnessed a total net outflow of 194 million USD on August 21 (U.S. time). Among them, Blackrock ETF (IBIT) led with a net outflow value of 127 million USD, reflecting significant selling pressure in this ETF system.
The net withdrawal movement of Blackrock ETF contributes to the decline in the total net cash flow of the entire Bitcoin spot ETF market. In contrast, smaller funds like Grayscale Bitcoin Mini Trust and Franklin Bitcoin still attract significant new capital on this day.
Which fund has the greatest appeal in new cash flow?
Grayscale Bitcoin Mini Trust leads in capital attraction with a new cash flow of 4.9657 million USD per day, raising the total accumulated value to 1.716 billion USD. Franklin Bitcoin ETF (EZBC) also recorded growth of 3.2497 million USD, with a total accumulation reaching 281 million USD.
This indicates that investors are still seeking growth opportunities through specialized ETF products, despite the market showing strong capital withdrawal signals from large funds like those of Blackrock.
Strong capital withdrawal from Blackrock ETF reflects a balancing adjustment between investment strategies in the cryptocurrency market, while smaller and specialized funds still attract investor attention.
Cryptocurrency market analyst, August 2024
What are the total asset value and ETF ratio in the Bitcoin market?
As of now, the total net asset value of Bitcoin spot ETFs reached 144.481 billion USD. The ETF value ratio to the total Bitcoin market value accounts for 6.45%, indicating the increasingly important role of ETFs in this major cryptocurrency market.
In addition, the total cumulative capital of Bitcoin ETFs since their inception has reached 53.823 billion USD, demonstrating the long-term attractiveness and stability of this investment channel in the cryptocurrency ecosystem.
When the value of ETF assets accounts for more than 6% of the total Bitcoin market, this is a sign that the ETF not only helps increase liquidity but also contributes to enhancing transparency and safety for investors.
Financial expert – Cryptocurrency, 8/2024
Frequently asked questions
What is a Bitcoin spot ETF?
Bitcoin spot ETF is an exchange-traded fund with Bitcoin as the underlying asset, allowing investors to access Bitcoin through financial products on the stock market.
Why can net outflows cause concern?
Large net outflows like those of Blackrock ETF can reflect liquidity pressure or psychological volatility, affecting the value and investor confidence.
What role does Grayscale Bitcoin Mini Trust play in the ETF market?
Grayscale is one of the funds attracting large cash flows, reflecting trust and benefiting from long-term growth in the Bitcoin market.
What does the ETF ratio to total Bitcoin value signify?
This ratio indicates the asset scale in the ETF compared to the total Bitcoin value, affecting liquidity and the popularity of the ETF investment channel.
What should investors pay attention to when investing in Bitcoin spot ETF?
Consider fluctuations in cash flow, management fees, and fund stability to assess risks and long-term investment effectiveness.
Source: https://tintucbitcoin.com/bitcoin-spot-etf-ghi-nhan-rut-rong-194-trieu-usd/
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