Second day in the red. The cryptocurrency market and Spot Bitcoin ETF had finished the month of September well, mainly thanks to the cut in key rates from the US Federal Reserveannounced on September 18. But the recent intensification of the conflict in the Middle East has broken this dynamicand crypto-assets are seeing red in recent days.
Even BlackRock’s Bitcoin ETF is in negative territory, an extremely rare fact
The financial markets, and in particular that of cryptocurrencies, have reacted very badly to the increase of uncertainty on the future of the conflict in the Middle East following the bombing of hundreds of missiles by Iran against Israel. Fears of a major war are weighing down the markets for so-called “risky” assets.
This is seen once again in the ETF Bitcoin spot, listed since last January. Indeed, for the 2th consecutive dayall of these exchange-traded funds saw capital outflows. To the point that even the famous fund It will go of BlackRockusually very popular, recorded -$13.7 million of net exits this Wednesday, October 2.
However, according to data from Farside Investors, it is the Bitcoin ETF ARKB of ARK Invest and Cathie Wood who suffered the largest negative capital flow during yesterday’s trading day. The latter thus saw -$60.3 million net outflows. On all 11 BTC ETFs spotthese are like this -$52.9 million of net negative flows which were recorded on October 2.
Only the fund FBTC of Fidelity managed to save the honor of Bitcoin ETFs yesterday, by printing +$21.1 million of net entries. After 8 days in the green, following the Fed’s announcement, BTC funds therefore confirm a slight drop in interest for institutional investors, after the buying euphoria of the end of September. To know whether or not this disinterest will be short term before a resumption, we will first have to wait to see how the situation is evolving in the Middle East. Hoping of course for appeasement, or at least a calm.
