Over the past two trading weeks, spot Bitcoin ETFs have already shown net outflows of $1.298 billion. Investment giant#BlackRockis currently the only fund with positive dynamics.
According to #SoSoValue, just yesterday, June 24, an outflow of funds from spot Bitcoin ETFs amounted to $174.45 million. Investors withdrew $90 million from the#Grayscalefund, $35 million from the#Fidelityfund, and $21 million from the#FranklinTempletonfund. In other funds - either no changes or outflows of up to $10 million.
This resonates with yesterday's data on cryptocurrency ETFs from Hong Kong. Local issuers were buying there yesterday.
Today, analysts are recording a large trading volume for American Bitcoin ETFs and it will be very interesting to see the final figures.
The actions of buyers of American spot Bitcoin ETFs in the coming weeks will be decisive for the asset price.#CrypoQuantwrites that hedge funds that bought the Bitcoin ETF and shorted#BTCon the Chicago Mercantile Exchange (CME) as a hedging strategy may soon begin selling the ETF and remain short. And such sales will increase pressure on the price.
Meanwhile, market analysts today in X are discussing the realized price for the US spot Bitcoin ETF. Lead analyst at#CryptoSlateJames Van Straten said the average is $58,000. The head of research at Uphold, Dr. Martin Hisböck, added that#BlackRockhas a higher figure - $62,460. And that “Anyway, what happens is not what they expected.”
But despite the situation with institutions, net inflows into the largest BTC wallets reached the highest level since the end of May. Such data is cited in #IntoTheBlock. Yesterday, holders controlling at least 0.1% of the total BTC supply added 7,130 BTC to their wallets, worth about $436 million.
