Money continues to drain from Bitcoin ETFs and panic increases among institutions!

A significant decline in Bitcoin ETFs:

After $545 million in outflows, Bitcoin ETFs continue to bleed at the start of this week.

The Grayscale Bitcoin ETF (GBTC) recorded its largest outflow of $90.4 million on Monday, bringing the total outflows from GBTC since its inception to nearly $18.5 billion.

Fidelity's FBTC fund also took a big hit with outflows of $35 million on Monday, and outflows have continued since mid-June, dragging assets under management down to less than $10 billion.

While most other Bitcoin ETFs have seen outflows, BlackRock’s IBIT has not recorded any outflows since its inception, although there have been several periods of no inflows recently.

The current sell-off clearly indicates a decline in early enthusiasm for the launch of spot Bitcoin ETFs, in addition to a decline in institutional interest in Bitcoin in light of the uncertainty in the global market.

Bitcoin investment products recorded $630 million in outflows last week.

Amid the current Bitcoin price correction, a significant divergence has been observed with the US stock market, especially the Nasdaq index.