Crypto NewsBitcoinSpot Bitcoin (BTC) Exchange Traded Funds (ETFs) Listed in the USA Experienced...

Spot Bitcoin (BTC) Exchange Traded Funds (ETFs) Listed in the USA Experienced Large Outflows This Week

U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) experienced outflows for the fifth consecutive day on Thursday.

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U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) experienced their fifth consecutive day of outflows on Thursday, their worst performance since mid-April. This week's total outflow exceeded $900 million.

Bitcoin ETFs Realize $900 Million Net Outflow This Week Amid Market Challenges

Data from SoSoValue reveals that 11 exchange-traded ETFs experienced outflows of $140 million on Thursday alone, with trading volume of $1.1 billion.

Grayscale's GBTC, which has faced constant outflows since its conversion to an ETF in January, led the way with an outflow of $53 million, followed by Fidelity's FBTC with $51 million.

BlackRock's IBIT, the largest ETF by assets, was the only ETF to record net inflows, albeit at $1 million. Other ETFs saw no net inflow or outflow activity.

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This outflow is the worst since late April, when trading sessions between April 24 and May 2 saw net outflows of $1.2 billion.

After this period, inflows increased and reached over 4 billion dollars in the next 19 days of transactions. However, the current wave of outflows started on June 10 and has continued.

Bitcoin prices have been under pressure in recent weeks due to a variety of factors, including $1 billion in sales from major holders, the strength of the US dollar and strong performance in the US tech index market.

These elements have collectively contributed to the ongoing challenges faced by Bitcoin ETFs.

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

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