Bitcoin ETF

Bitcoin

Spot

<ul>
 <li>A significant outflow of $545M was reported this week as per data from Farside investors.</li>
 <li>Despite a little uptick in the last day, the price of Bitcoin has remained in the negative.</li>
</ul>
Amid heavy withdrawals from the U.S. Spot Bitcoin ETFs, the cryptocurrency’s price has remained low throughout the week. Concerns over <a href="https://thenewscrypto.com/can-bitcoin-bulls-break-the-66k-barrier-amid-market-challenges/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s</a> near-term performance were sparked by statistics from Farside Investors, which showed that these ETFs saw a total outflow of $545 million this week.
Also, the stock market was closed on June 19, so it’s important to note that the U.S. Spot Bitcoin ETF registered the outflow in only four trading days this week. A significant outflow of $545 million was reported this week, according to the latest statistics from <a href="https://farside.co.uk/" target="_blank" rel="noopener noreferrer nofollow">Farside Investors</a>. This indicates that investors are becoming more cautious.
<h3 class="wp-block-heading" id="h-struggle-continues">Struggle Continues</h3>
Despite a little uptick in the last day, the price of Bitcoin has remained in the negative. In the meanwhile, the selling reflects the general market pessimism. The Juneteenth vacation caused the withdrawals to happen across four trading days, with Friday, June 21, seeing the lowest single-day outflow of $105.9 million.
Moreover, rhe largest outflow on June 21st occurred in <a href="https://thenewscrypto.com/fidelity-amends-s-1-for-spot-ethereum-etf-no-sponsor-fee-disclosure/" target="_blank" rel="noopener noreferrer nofollow">Fidelity’s</a> FBTC, which lost $44.8 million. Nearby, with $34.2 million and $28.8 million, respectively, were <a href="https://www.grayscale.com/" target="_blank" rel="noopener noreferrer nofollow">Grayscale’s</a> GBTC and ARK 21Shares Bitcoin ETF (ARKB). All of these numbers point to a general decline in investor trust across a number of large ETFs.
Furthermore, experts in the industry and those who have invested in Bitcoin ETFs are concerned about this significant withdrawal. Coincident with Bitcoin’s declining trading volume and price, the outflows have cast doubt on the cryptocurrency’s near-term prospects. The market’s response to these withdrawals may signal that investor confidence is waning, which might lead to further price drops.
&nbsp;Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/will-ethereum-hold-3500-amidst-market-uncertainty/" target="_blank" rel="noopener noreferrer nofollow">Will Ethereum Hold $3,500 Amidst Market Uncertainty?</a>

U.S Spot Bitcoin ETFs See $545M Outflow Amid Investor Caution

Table of Contents

TheNewsCrypto

Other articles published on Jun 22, 2024

What Is A Sidechain In Blockchain And How Does It Work?

Daily Market Review: BTC, ETH, AR, JASMY, ORDI

Crypto Market Bloodbath: Are THESE Altcoins Doomed?

GNOSIS Unique Transfers Decline,While Price Dwindles To A New Low

Investors Pull Funds from Bitcoin ETFs

Brett Price Prediction: BRETT Is the Top Monthly Gainer With A 182% Surge As Analysts Say This Ne...

Join our free newsletter for daily crypto updates!