Bitcoin ETF Outflows Rise Spot Bitcoin ETFs, which had an excellent start to June, have registered significant outflows in the last month. This is because the Federal Reserve moved forward with its plan of maintaining the interest rates for longer than expected. More than $92 million in outflows were registered in Fidelity’s FBTC, opening the way for the future—the US spot Bitcoin USF to register $145 million in net outflows on Monday, June 17. Fidelity’s FBTC has seen net outflows of over 140 million dollars last week.
While Grayscale’s GBTC and VanEck’s HODL had negative flows of about $4 million each on Monday, Ark Invest and 21Shares’ ARKB suffered net outflows of $50 million. Moreover, VanEck’s HODL also reported these negative flows. Although Bitwise’s BITB had a positive net inflow of $3 million on Monday, BlackRock’s IBIT did not. Conversely, the net inflows were very poor.
US Spot Bitcoin USFs
Bitcoin ETF Outflows Increase: Spot Bitcoin ETFs, which had an excellent start to June, have registered significant outflows in the last month. This is because the Federal Reserve moved forward with its plan of maintaining the interest rates for longer than expected. More than $92 million in outflows were registered in Fidelity’s FBTC, opening the way for the future. The US spot Bitcoin USF to register $145 million in net outflows on Monday, June 17. Fidelity’s FBTC has seen net outflows of over 140 million dollars last week.
While Grayscale’s GBTC and VanEck’s HODL had negative flows of about $4 million each on Monday, Ark Invest and 21Shares’ ARKB suffered net outflows of $50 million. Moreover, VanEck’s HODL also reported these negative flows. Although Bitwise’s BITB had a positive net inflow of $3 million on Monday, BlackRock’s IBIT did not. Conversely, the net inflows were very poor.
Bitcoin Products See $620M in Outflows
According to a CoinShares report, Bitcoin investment funds suffered a massive outflow of $620 million last week. In essence, among Bitcoin products, there was a $1.8 million inflow. This information was collected from Bitcoin ETF Outflows Rise investment products. The research states that physical Bitcoin and exchange-traded funds (ETFs) are the main factors behind most outflows. Butterfill noted that the capital worldwide declined from $100 billion to $94 billion because of net outflows and a 5% shortfall. Last week, the sell-off in the cryptocurrency market coincided with such an event in Bitcoin.
Per CoinShares, the global trading volumes of digital asset investment products last week were relatively lower, totaling $11 billion. This is in comparison to the annual weekly mean of $22 billion. Bit—Bitcoin in the U.S. contributed to the weekly trading volume by millions. However, a significant drop occurred compared to the $32.69 billion reached between March 4 and 8. Still, the initial excitement brought about by the introduction of spot Bitcoin ETFs has almost vanished On institutional players. Consequently, these institutional players are only willing to wait for macro catalysts like rate cuts before gathering even more funds for the Bitcoin ETFs.
FAQs
How much did Fidelity's FBTC experience in outflows?
Fidelity's FBTC saw over $92 million in outflows, contributing to the overall trend of declining Bitcoin ETF investments.
Which Bitcoin ETFs reported negative flows?
Grayscale's GBTC, VanEck's HODL, Ark Invest’s ARKB, and others reported negative net flows, with Ark Invest facing a $50 million outflow.
What does the CoinShares report say about Bitcoin investment funds?
The CoinShares report highlighted a massive $620 million outflow from Bitcoin investment funds last week, signaling reduced investor interest.
What are institutional investors waiting for in the Bitcoin market?
Institutional investors are waiting for macroeconomic catalysts, such as interest rate cuts, before committing more funds to Bitcoin ETFs.
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