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Bitcoin ETFs Face Fifth Day of Outflows
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Thursday marked the fifth consecutive day of net outflows for U.S.-listed Bitcoin ETFs, experiencing their worst performance since mid-April. Spot Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. saw a significant outflow, losing over $900 million this week.

Detailed ETF Outflow Data

According to SoSoValue, the 11 listed Bitcoin ETFs lost $140 million on Thursday alone, with trading volumes reaching $1.1 billion. Grayscale’s GBTC, which has faced outflows since its January conversion to an ETF, led the losses with $53 million. Fidelity’s FBTC followed closely, losing $51 million.

BlackRock's IBIT Stands Out

Interestingly, BlackRock’s IBIT, the largest ETF by assets, recorded a net inflow of $1 million. In contrast, other products saw no significant net inflow or outflow activity.

Historical Context and Recent Trends

This recent outflow activity is the worst since late April when Bitcoin ETFs experienced $1.2 billion in net outflows from April 24 to May 2. Afterward, inflows picked up, with the products adding over $4 billion in the next 19 trading days. However, the current outflow trend began on June 10.

Factors Influencing BTC Prices

Bitcoin prices have been under pressure in recent weeks. This decline is due to $1 billion in sales from large holders, a strong U.S. dollar, and a robust U.S. technology index market.

The ongoing outflow trend in Bitcoin ETFs indicates investor caution amid market volatility. As the crypto market evolves, these trends highlight the need for close monitoring and strategic adjustments.