Bitcoin ETF

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-withdraw-funds-from-spot-bitcoin-etfs/" data-wpel-link="internal">Investors Withdraw Funds from Spot Bitcoin ETFs</a><br></p>
<p style="text-align: justify">Bitcoin price volatility seems unending. <strong>BTC</strong> was below $67,000 while writing this article. Volatile movements also reflect on spot Bitcoin ETFs. One day sees significant inflows, another sees outflows. Price instability likely makes spot Bitcoin ETF investors pessimistic. We observed such pessimism yesterday. Let’s look at the details.</p> 
<h2 style="text-align: justify" id="withdrawals-from-spot-bitcoin-etfs">Withdrawals from Spot Bitcoin ETFs</h2> 
<p style="text-align: justify">Yesterday’s figures showed withdrawals from Bitcoin ETFs. Spot Bitcoin ETFs saw $226.21 million in outflows. Interestingly, on a day of heavy outflows, only one Bitcoin ETF had inflows. That was BlackRock’s Bitcoin ETF with an $18 million inflow. IBIT currently holds $20.38 billion in Bitcoin ETF assets.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-362306 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/etf-4.png" alt="" width="1623" height="772"></p> 
<p style="text-align: justify">Looking at the withdrawals, the largest was Fidelity’s Bitcoin ETF with $106 million. Other withdrawals included Grayscale with $62 million, Ark Invest with $53 million, <strong>VanEck</strong> with $11 million, Bitwise with $10 million, and Invesco with $3 million. Valkyrie, Hashdex, WisdomTree, and Franklin had no withdrawals.</p> 
<h2 style="text-align: justify" id="numbers-change-based-on-market-sentiment">Numbers Change Based on Market Sentiment</h2> 
<p style="text-align: justify">We are at a stage where institutional investors’ sentiment clearly depends on market trends. Expecting significant inflows while Bitcoin price drops is difficult. Withdrawals may increase as Bitcoin price falls.</p> 
<p style="text-align: justify">The total assets in spot Bitcoin ETFs are currently around $58 billion. Considering Bitcoin’s market value of $1.3 trillion, approximately 4.5% of <strong>BTC</strong> supply is in spot Bitcoin ETFs.</p> 
<p style="text-align: justify">Finally, the excitement in spot Bitcoin ETFs has already turned into stagnation, making <a href="https://newslinker.co/" target="_blank" rel="noopener" data-wpel-link="exclude">future predictions</a> difficult. However, an announcement of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> cuts by the <a>Fed</a> could significantly boost Bitcoin price and spot Bitcoin ETF inflows. Spot <a href="https://en.coin-turk.com/ethereums-dencun-update-deployed-on-goerli-testnet/" data-wpel-link="internal">Ethereum</a> ETFs starting operations could also catalyze a Bitcoin price increase.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-withdraw-funds-from-spot-bitcoin-etfs/" data-wpel-link="internal">Investors Withdraw Funds from Spot Bitcoin ETFs</a></h5>

Investors Withdraw Funds from Spot Bitcoin ETFs

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