Bitcoin Spot ETFs Witness Another Complete Outflows Day

spot ETFs continued to experience another massive outflow measured at $152 million on June 18, 2024. Again, there was no inflow recorded in any of the US Bitcoin ETFs, which seems to be the case in recent times. Grayscale (GBTC) and Fidelity (FBTC) were the funds most affected. Grayscale experienced outflows of $62.3 million. On the other hand, Fidelity saw an even larger outflow of $83 million.

🚨 $BTC #ETF Net Inflow June 18, 2024: -$152M!

• No US Bitcoin EFTs had an inflow yesterday ⚠️.

• #Grayscale (GBTC) experienced an outflow of $62.3M, preceded by only #Fidelity (FBTC) with $83M.

• The net inflow remains negative for 4 consecutive days.

Follow @spotonchain… pic.twitter.com/0DWBtx0Dd4
— Spot On Chain (@spotonchain) June 19, 2024

Bitcoin ETFs Face Fourth Day of Withdrawals

This is the fourth consecutive day that has seen negative net inflows of Bitcoin ETFs. These are negative figures reflecting the fact that investors are pulling their money from these financial products over the past few days and weeks.

Therefore, observing the outflows from the Bitcoin ETF indicates the general sentiments and issues in the market. They step in moderation, apparently because of recent fluctuations in the markets and ambiguity in the regulatory policies.

Market Awaits Change as Bitcoin ETF Outflows Persist

As Bitcoin ETFs endure these challenges, the market observers will wait to see whether this scenario changes or whether the outflows proceed in the days ahead. The following figure shows that the negative net inflow has kept going and could further affect the Bitcoin-related financial product system.

The behavior of outflows implies that at the moment investors are more cautious when it comes to the risks of Bitcoin ETFs. If these tendencies persist, it may indicate fundamental problems in the cryptocurrency market or more extensive economic problems.

Tags: BTC