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Bitcoin ETF

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-etfs-face-significant-outflows" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin ETFs Face Significant Outflows</a><br></p>
<p style="text-align: justify">On June 10, <a href="https://en.bitcoinhaber.net/bitcoins-price-forecast-expert-insights-and-future-expectations" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> investment funds in the United States experienced a substantial net outflow, halting a 19-day streak of continuous inflows. The 11 spot Bitcoin ETFs collectively saw a net outflow of $64.93 million. Grayscale’s GBTC fund was the hardest hit, registering a $40 million outflow over the week. Invesco and Galaxy Digital’s BTCO also faced net outflows amounting to $20 million, with other funds witnessing investor redemptions.</p>
<h2 id="what-s-impacting-etf-movements">What’s Impacting ETF Movements?</h2>
<p style="text-align: justify">Valkyrie’s Bitcoin ETF reported a $16 million net outflow, while Fidelity’s FBTC fund experienced its first negative flow since May 2, with a $3 million outflow. Conversely, BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, recorded a net inflow of $6 million. Bitwise’s BITB fund saw a positive inflow of $8 million. The previous inflow streak, which ended on May 7, saw over $4 billion in net inflows, contributing to a total of $15.62 billion since January.</p>
<p style="text-align: justify">According to trading firm QCP Capital, Bitcoin’s price dipped on May 7 following conflicting US economic <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>, causing investors to withdraw from riskier assets amid uncertainty.</p>
<h2 id="why-are-markets-watching-closely">Why are Markets Watching Closely?</h2>
<p style="text-align: justify">Markets are now eagerly anticipating the release of the US Consumer Price Index (CPI) and the Federal Open Market Committee meeting later this week. The CME Group indicates a 99.4% likelihood that the Federal Reserve will maintain current <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">interest rates</a> between 5.25% and 5.50%. Meanwhile, a Reuters survey of economists predicts that the Fed could initiate rate cuts twice starting in September.</p>
<h2 id="key-insights">Key Insights</h2>
<ul class="Summary">
 <li>On June 10, 11 spot Bitcoin funds recorded a net outflow of $64.93 million.</li>
 <li>Grayscale’s GBTC led the outflows with $40 million.</li>
 <li>Investors are closely monitoring the upcoming US CPI release and Federal Reserve meeting.</li>
</ul>
<p style="text-align: justify">US ETF issuers are also awaiting feedback from the Securities and Exchange Commission (SEC) on their S-1 registration statements submitted last month. Approval from the SEC is essential for launching spot Ethereum funds.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-etfs-face-significant-outflows" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin ETFs Face Significant Outflows</a></h5>

Bitcoin ETFs Face Significant Outflows

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