Demand for Bitcoin ETFs in the US Drops to $232 Million Over 13 Sessions

American spot Bitcoin ETFs attracted $232 million over the last 13 trading sessions, despite an influx of $1.7 billion on September 21 and 22. Following this, interest in the funds sharply declined, with outflows on some days. Bitcoin recovered above $83,000, but ETF investors failed to respond to this movement. On September 21, the funds received $999 million, and on September 22, $714.8 million, increasing the total inflow to $56.87 billion. However, on September 30, there was an outflow of $148.7 million, indicating weakened demand. On October 1 and 2, the funds recorded inflows of $102.7 million and $189.8 million, respectively, but then followed by two large outflows totaling $731.2 million. The net assets of the funds decreased from $110.77 billion on October 5 to $105.84 billion on October 9, with a net outflow of $591 million. On Friday, the funds ended the day with an inflow of $21.13 million, thanks to BlackRock iShares Bitcoin Trust (IBIT), which attracted $22.38 million. IBIT controls 63% of the total assets of the funds. The trading volume of Bitcoin ETFs was $1.44 billion, the lowest figure over the past 13 sessions. The CoinGecko Fear and Greed Index stands at 39, indicating a cautious sentiment among market participants.

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