🚀 Bitcoin ETFs See $65M Net Outflows, Ending 19-Day Streak 📉
The 19-day streak of net inflows for U.S.-listed spot Bitcoin ETFs ended on Monday with a combined $65 million in net outflows. Grayscale’s GBTC led the way with $40 million in outflows, continuing its trend as the worst-performing ETF since January. Meanwhile, Bitwise’s BITB saw the highest inflows at $7.6 million.
Invesco and Galaxy Digital’s BITCO faced $20 million in net outflows, Valkyrie’s BRRR ETF saw $16 million, and Fidelity's FBTC reported $3 million in net outflows, its first since early May. The last major outflow was $84 million on May 10, but since then, inflows had added over $4 billion in just 19 days.
These outflows come amid a market-wide slide in cryptocurrencies and stock market losses. Traders are bracing for a volatile week with the upcoming U.S. CPI reading on Wednesday and U.S. Treasury Secretary Janet Yellen’s speech on Friday. The Federal Reserve’s monetary policy decision at the FOMC meeting also adds to the market uncertainty.
Bitcoin has dropped 2.7% in the past 24 hours, reversing last week's gains when it briefly hit a two-month high of $70,000. 🌐💸
