Net USD capital inflows into spot Bitcoin ETFs have weakened since August 2024, with reported outflows now at $107 million per week
Despite Bitcoin’s recent recovery, investors remain unconvinced that “the bull market is back” in the short term. According to a report published by Glassnode on September 10, investor interaction with centralized exchanges (CEXs) has decreased, and trading volumes have “shrinked across the board.”
Selling pressure from investors has been increasing over the past three months, leading to a downward BTC price trend.
The weakening investor interest is also reflected in the institutional space, with spot Bitcoin exchange-traded funds (ETFs) “seeing net outflows.” Net USD capital inflows into spot Bitcoin ETFs have weakened since August 2024, with reported outflows now at $107 million per week.
Data shows that between August 27 and September 6, the US spot Bitcoin ETF had a net outflow of $1.186 billion, and a small inflow of $28 million on September 9.
CoinShares' additional data shows that as of the week of September 6, the total outflow of funds from Bitcoin investment products reached $643 million.
