1. Significant Bitcoin ETF Outflow
2. Bitcoin Price Fluctuations
3. Ether ETF Operations

Institutional investors appear to be spooked by tensions in the Middle East, resulting in a significant outflow from US Bitcoin ETFs.

Significant Bitcoin ETF Outflow

The eleven US spot Bitcoin ETFs saw aggregate outflows of $242.6 million on Tuesday, Oct. 1, according to data from Farside Investors. This is the largest outflow for almost a month, with Sept. 3 seeing $288 million leaving BTC ETFs.

Bitcoin Price Fluctuations

Spot Bitcoin (BTC) prices plunged almost $4,000 following Iran’s missile attack on Israel on Oct. 1. The asset fell to a two-week low of $60,315 before recovering to $61,620 at the time of publication.

Ether ETF Operations

The nine US spot Ether ETFs also registered another day of outflows, with an aggregate of $48.6 million exiting the products. Grayscale’s Ethereum Trust has continued to lead the bleed, shedding a further $26.6 million on Oct. 1. The Fidelity Ethereum Trust lost a similar $25 million, making up the bulk of the losses.

Institutional investors appear to have been spooked by the geopolitical situation, resulting in significant outflows from Bitcoin and Ether ETFs.