Bitcoin ETFs continue to see substantial outflows, with a staggering $152 million withdrawn on June 18, 2024. Once again, no US Bitcoin ETFs reported any inflow, a trend that has been consistent in recent times. The funds most impacted by these outflows were Grayscale (GBTC) and Fidelity (FBTC), with Grayscale experiencing $62.3 million in outflows and Fidelity seeing an even larger $83 million withdrawn.
This marks the fourth consecutive day of negative net inflows for Bitcoin ETFs, indicating a trend of investors withdrawing their funds from these financial products in recent days and weeks. The outflows reflect the prevailing sentiments and concerns in the market, likely influenced by market fluctuations and regulatory uncertainties.
As Bitcoin ETFs grapple with these challenges, market observers will be keen to see if this trend changes or if outflows continue in the coming days. The sustained negative net inflow suggests a potential impact on the Bitcoin-related financial product ecosystem.
The ongoing outflows signal investor caution towards the risks associated with Bitcoin ETFs at present. If this trend persists, it could signify underlying issues in the cryptocurrency market or broader economic concerns.
Tags: BTC
(Source: @spotonchain)