As a researcher with extensive experience in the cryptocurrency market, I find the recent developments in the United States Bitcoin spot ETFs particularly intriguing. The significant net outflows of over $150 million on June 18 alone, as reported by FarsideInvestor, are noteworthy, with Fedelity’s FBTC and Grayscale’s GBTC experiencing the largest outflows at $83.1 million and $62.3397 million, respectively.
On June 18, US Bitcoin spot ETFs collectively saw a significant withdrawal of approximately $152 million.
Significant amounts of money were withdrawn from Fidelity’s ETF (FBTC) and Grayscale’s ETF (GBTC) in a day, according to FarsideInvestor’s data. FBTC experienced an outflow of $83.1 million with no reported inflows, while GBTC recorded a net outflow of $62.34 million and zero inflows. Bitwise Bitcoin ETF also noted an outflow of $7 million.
Over the past few months, specifically since their debut in January, these 11 U.S.-listed bitcoin ETFs have amassed a collective net investment of approximately $14.81 billion. Among them, FBTC has attracted major investments to the tune of $17.64 billion, while GBTC has experienced significant outflows amounting to $18.27 billion.
The massive withdrawal of funds from Bitcoin ETFs might be an indicator of changing investor attitudes towards Bitcoin and could influence the entire cryptocurrency sector. These outflows usually signify decreased investor trust or profit-seeking behavior, which in turn may result in heightened market instability.
The significant amount of Bitcoin flowing out of Grayscale’s GBTC, a well-known investment product for Bitcoin, highlights the increasing apprehensions in the cryptocurrency market.
Over the past week, a total of $812 million has been withdrawn from these eleven ETFs. Notably, FBTC and GBTC experienced significant outflows to the tune of approximately $318 million and $299 million, respectively.
Read More
Sorry. No data so far.
2024-06-19 12:36