{"id":74925,"date":"2023-08-21T21:00:00","date_gmt":"2023-08-21T21:00:00","guid":{"rendered":"https:\/\/kryptodata.se\/weekly-cryptocurrency-outflows-reach-55m-due-to-waning-optimism-for-bitcoin-etf-approval\/"},"modified":"2023-08-21T21:00:00","modified_gmt":"2023-08-21T21:00:00","slug":"weekly-cryptocurrency-outflows-reach-55m-due-to-waning-optimism-for-bitcoin-etf-approval","status":"publish","type":"post","link":"http:\/\/kryptodata.se\/weekly-cryptocurrency-outflows-reach-55m-due-to-waning-optimism-for-bitcoin-etf-approval\/","title":{"rendered":"Weekly cryptocurrency outflows reach $55M due to waning optimism for Bitcoin ETF approval"},"content":{"rendered":"

Even though altcoins experienced a slump, Ripple and Cardano were the only ones to see inflows. Digital asset investment products saw $55 million in outflows for the week of September 13-19, with Bitcoin alone accounting for $42 million of those outflows. Ethereum products also saw outflows, along with Polygon, Litecoin, and Polkadot. Ripple received $1.2 million in inflows, while Cardano saw $100,000. Canada reported the highest losses with $35.9 million in outflows, followed by Germany and the U.S. Switzerland and Australia were the only territories to report inflows. The outflows were driven by a lack of movement from the SEC regarding the approval of a spot Bitcoin ETF. Investor speculation surrounding the potential approval of a spot-based Bitcoin ETF has led to optimism for the future of cryptocurrency. Fundstrat predicts that if the SEC approves spot-based Bitcoin ETFs, the value of Bitcoin could surpass $150,000 by the end of 2024.<\/p>\n

Summary:<\/p>\n

– Altcoins slumped, except for Ripple and Cardano which saw inflows.<\/p>\n

– Digital asset investment products had $55 million in outflows.<\/p>\n

– Bitcoin accounted for $42 million of the outflows.<\/p>\n

– Ethereum, Polygon, Litecoin, and Polkadot also saw outflows.<\/p>\n

– Canada had the highest losses, followed by Germany and the U.S.<\/p>\n

– Switzerland and Australia were the only territories with inflows.<\/p>\n

– The outflows were due to a lack of movement from the SEC on approving a spot Bitcoin ETF.<\/p>\n

– Investor speculation on the approval of a spot-based Bitcoin ETF has created optimism for cryptocurrency.<\/p>\n

– Fundstrat predicts that if spot-based Bitcoin ETFs are approved, Bitcoin’s value could exceed $150,000 by the end of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

<\/p>\n

Even altcoins slumped, with only Ripple and Cardano registering inflows. <\/p>\n","protected":false},"author":1,"featured_media":74926,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_oct_exclude_from_cache":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[21],"tags":[47,46,75],"class_list":["post-74925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-bitcoin","tag-ethereum","tag-polygon"],"yoast_head":"\nWeekly cryptocurrency outflows reach $55M due to waning optimism for Bitcoin ETF approval - 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