Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) exchange-traded funds (<a href="https://crypto.news/tag/etf/" rel="noopener noreferrer nofollow">ETFs</a>) in the U.S. have recorded their second consecutive day of net outflows ahead of the Fed’s FOMC meeting and key U.S. inflation data out Wednesday.
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener noreferrer nofollow">data</a> provided by Farside Investors, BTC ETFs in the U.S. saw $200.4 million in net outflows on June 11. Most of the outflows come from Grayscale Bitcoin Trust (GTBC) and ARK 21Shares Bitcoin ETF (ARKB), amounting to $121 million and $56.5 million, respectively.
Following the recent outflows, the total amount of net outflows from the GBTC spot Bitcoin ETF has surpassed the $18 billion mark, per Farside Investors’ data.&nbsp;
Moreover, the Bitwise Bitcoin ETF (BITB), Fidelity Wise Origin Bitcoin Fund (FBTC) and VanEck Bitcoin Trust (HODL) recorded $11.7 million, $7.4 million and $3.8 million in net outflows, respectively.
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Other spot Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT), remain neutral.
On June 10, spot Bitcoin ETFs <a href="https://crypto.news/spot-btc-etfs-record-first-day-of-outflows-in-4-weeks/" rel="noopener noreferrer nofollow">recorded</a> their first day of net outflows after four weeks of constant inflows — reaching $64.9 million.&nbsp;
The leading cryptocurrency, Bitcoin, also briefly <a href="https://crypto.news/bitcoin-price-dives-to-66k-ahead-of-fomc-decision-bullish-analyst-says-weve-seen-this-before/" rel="noopener noreferrer nofollow">plunged</a> to the $66,000 mark as investors have been trying to minimize their investment risks. However, crypto trader and analyst, known as Max on X, says “we’ve seen this before” — pointing out the downward momentum before the U.S. CPI data release.&nbsp;
It’s important to note that the U.S. inflation data is scheduled to be released today, at 12:30 UTC, and typically a decline in the U.S. inflation rate means bullish winds for crypto.
According to Santiment’s X post, experts expect a 3.4% year-over-year (YoY) increase in the country’s inflation between May 2023 and 2024.&nbsp;
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 🧑‍💼🇺🇸 The May 2024 Consumer Price Index (CPI) report is scheduled to be released tomorrow (June 12th) at 12:30pm UTC (11 hours from now). Current experts expect a 3.4% YoY or 0.3% MoM increase… 🐂 If lower, it's a signal that inflation is slowing, increasing the likelihood of… <a href="https://t.co/GDFWguyRbo" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/GDFWguyRbo</a>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1800679538118250578?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 12, 2024</a>
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Read more: <a href="https://crypto.news/sol-and-doge-are-bearish-but-theres-good-news-analyst/" rel="noopener noreferrer nofollow"> SOL and DOGE are bearish but there’s “good news”: Analyst </a>

BTC ETF outflows reach $200m ahead of crucial Fed inflation data

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