Global market movements have recently impacted spot Bitcoin ETFs. On Monday, August 5, 2024, there was a net outflow of $168 million from U.S. spot Bitcoin ETFs. Among the 12 traded spot Bitcoin ETFs, Grayscale’s GBTC experienced the largest outflow, amounting to $69.12 million. Other major outflows were observed in ETFs managed by Ark Invest, 21Shares, and Fidelity. On the same day, spot Bitcoin ETFs saw a total trading volume of $5.24 billion, marking the highest transaction volume since March 25, 2024.
Bitcoin Dominance Increases
According to data from Coinglass, Bitcoin’s dominance has reached its highest level since April 2021. Bitcoin dominance rose to 55.69%, hitting a three-year peak.
Trump’s Statement on Bitcoin
Former U.S. President Donald Trump recently discussed Bitcoin in an interview last week, warning the current U.S. administration against selling Bitcoin. Trump emphasized that if the U.S. does not innovate in the digital asset space, other countries will make significant advancements. He pointed out that China is already making progress in the cryptocurrency and artificial intelligence sectors. Regarding Bitcoin, Trump stated, “This is a very modern currency, a very modern form, and I know some very smart, good people who are really interested in this world and this market. They think it’s going to be very beneficial.”
