📉 US Bitcoin ETFs saw a net outflow of $20.45M on Wednesday. Grayscale's GBTC experienced a $26.99M exit while Fidelity's FBTC gained $6.55M. The other nine funds, including BlackRock's IBIT, Bitwise's BITB, and VanEck's HODL, reported no flows.

📊 Trading volume for these 11 funds reached around $800M on July 3rd, down from $995M the previous day. Despite this, the ETFs have attracted a total of $14.62B in net inflows since their launch in January.

🚀 July kicked off positively for US Bitcoin ETFs, recording their largest daily influx in almost a month on the first day, totaling $129M. However, the first week has been turbulent with Bitcoin dropping to $56,770, a level last seen in February.

🐳 Whales are selling again, with a transfer of 1,700 BTC valued at over $99M to Binance observed on July 4th.

🔮 Despite the uncertainty, Bitfinex's Head of Derivatives, Jag Kooner, suggests that Bitcoin ETF flows might see an uptick if market participants believe that economic uncertainty will drive the Fed towards eventual rate cuts.

What are your thoughts? 💭 #Bitcoin #ETFs #CryptoNews