Bitcoin ETFs experienced a net outflow of $140 million on June 20, 2024, marking the fifth consecutive day of negative inflows.
Key Highlights:
– The trend of negative net inflows has persisted for five straight days.
– Only BlackRock’s IBIT saw a slight inflow of $1.5 million yesterday.
– Grayscale’s GBTC recorded the largest outflow of the day at $53 million.
Grayscale’s GBTC Leads with $53M Outflow in a Single Day
Among ETFs, only BlackRock’s IBIT reported a positive inflow, albeit a modest $1.5 million, according to SpotOnChain.
Among Grayscale’s cryptocurrencies, GBTC saw significant trading with an outflow of $53 million. Over the past five days, Grayscale has witnessed total outflows amounting to $232 million. Fidelity’s FBTC also experienced substantial outflows, totaling $413 million during the same period.
These figures indicate a net drain, suggesting that investors are withdrawing more assets from Bitcoin ETFs than they are investing. This trend could indicate shifting investor sentiments or strategies regarding Bitcoin investments.
Substantial Net Outflows Reflect Investor Caution towards Bitcoin ETFs
Recent data, including significant outflows, indicates a pattern of investors exiting popular ETFs like Grayscale and Fidelity. BlackRock’s IBIT stands out with a minor inflow during this challenging period for Bitcoin ETFs.
Overall, the current trend underscores cautious investor sentiment towards Bitcoin ETFs, with notable net outflows observed over the past week.
Tags: BTC, ETF