The cryptocurrency market has been experiencing significant volatility, and the spotlight is now on Bitcoin ETFs outflows. Recent data highlights a concerning trend in the Bitcoin exchange-traded funds (ETFs) market, with outflows exceeding $1 billion in the past ten days. This article delves into the details of these outflows, their implications, and what traders and investors need to know.
Understanding the Current Bitcoin ETFs Outflows
The trend of Bitcoin ETFs outflows has been persistent over the past week. On June 24 alone, the total outflows across all nine spot Bitcoin ETFs amounted to $174.5 billion. Notably, none of these ETFs recorded any inflows, marking a significant shift in market sentiment.
One of the most impacted ETFs is the Grayscale Bitcoin Trust (GBTC), which has seen outflows of $90.4 million, bringing its total outflows since inception close to $18.5 billion. Fidelity’s Bitcoin ETF (FBTC) also faced substantial outflows, losing $35 million on Monday. This consistent pattern of outflows suggests a growing concern among institutional investors about the stability of Bitcoin ETFs.
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