Bitcoin ETF Sees $462.7M Outflow as Oil Prices Surge Past $100

International oil prices surged past $100 per barrel as US core inflation exceeded expectations, triggering a downturn across stock and cryptocurrency markets. The US spot Bitcoin ETF saw a net outflow of $462.7 million (approximately KRW 623.3 billion). Gate Ventures reported in its weekly report that geopolitical tensions in the Middle East drove Brent crude and West Texas Intermediate (WTI) oil prices up by 8.33% and 9.36%, respectively, both surpassing $100 per barrel. The US August core consumer price index (CPI) rose 0.29% month-on-month, reflecting inflationary pressures that also impacted the US Treasury market, with the 10-year yield climbing to 4.97%. Market expectations for a September rate hike stood at approximately 86%. Major stock indices declined, with S&P 500 down 0.80%, Nasdaq Composite dropping 0.66%, and Dow Jones Industrial Average falling 1.57%. Gold prices fell 1.82% to $4,349.42 per ounce. In the crypto market, Bitcoin (BTC) dropped 4.4% and Ethereum (ETH) declined 1.5%. While Bitcoin ETFs saw a $462.7 million outflow, Ethereum ETFs recorded an inflow of $197.1 million (approximately KRW 265.5 billion). Market sentiment weakened as the Fear & Greed Index fell from 71 to 57. Gate Ventures explained that rising oil prices could exacerbate inflationary pressures, potentially dampening expectations for rate cuts and weakening risk asset investment sentiment in stocks and crypto. This trend aligns with previous instances where Middle East tensions and oil price surges increased volatility in the cryptocurrency market. However, not all crypto sector movements were negative: India launched a $17 million (approximately KRW 144.1 billion) tokenized corporate bond pilot program, which Gate Ventures highlighted as an example of institutional real-world asset (RWA) infrastructure expansion. Singapore's Monetary Authority granted Gemini a major payment institution (MPI) license, while the Philippines central bank proposed pausing new registration for payment system operators related to virtual asset service providers (VASPs) for 12 months. The funding market saw nine transactions totaling $158.4 million (approximately KRW 213.4 billion), a decrease of 88% from the previous week.