According to Farside Investors:
- On Friday, Grayscale Bitcoin Trust (GBTC) reported net outflows of $13.9 million.
- However, Bitwise Bitcoin (BITB) saw net inflows of $15.3 million, while Fidelity Wise Origin Bitcoin Fund (FBTC) had net inflows of $13.6 million
- Four issuers reported net inflows, while iShares Bitcoin Trust (IBIT) had zero net flows.
Despite Friday’s net inflows, the US BTC-spot ETF market had net outflows of $274.3 million in the week ending October 4. Flow trends for the week left BTC in negative territory on Saturday.
Middle East Conflict in Focus
An escalation in the Middle East conflict impacted demand for riskier assets, including BTC-spot ETFs. This weekend, reports of further bombings in Beirut could raise fears of a wider regional conflict.
A marked decline in demand for riskier assets, including BTC-spot ETFs, could signal a BTC drop below $60,000….
