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Bitcoin ETFs Flows and Market Corrections

Bitcoin ETFs Report, August 2024

Ecoinometrics

Aug 7

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ETF-like products now hold over 5% of the total Bitcoin supply. Most of these holdings are concentrated in the largest US spot Bitcoin ETFs: IBIT, GBTC, FBTC, ARKB, and BITB.

Investors buying Bitcoin through these ETFs have a different profile than the average Bitcoin investor of old. Plus, these ETFs are relatively new and haven't faced major market corrections yet.

So, will these investors bail at the first sign of a big drop? Or are they diamond hands?

The recent correction we've seen over the last few days gives us a hint at the answer.

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Bitcoin ETFs Flows and Market Corrections

The Takeaway

Bitcoin's recent 18% drop over 6 days marks one of its worst corrections in a decade.

This correction tested the new Bitcoin ETFs for the first time.

ETF outflows were noticeable but not alarming.

Early data suggests most ETF investors are holding steady despite volatility.

Bitcoin ETFs don't seem to be adding significant selling pressure during corrections, but a prolonged downturn would be the real test.

A Test by Fire...

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