Bitcoin ETF

Bitcoin

Million

Spot

<ul> 
 <li>Withdrawals from spot Bitcoin ETFs have topped $1 billion in the last 10 days.</li> 
 <li>No Bitcoin exchange-traded fund (ETF) saw any form of inflow on Monday, June 24.</li> 
</ul> 
Major withdrawals have been seen in the US spot Bitcoin ETFs for seven consecutive days, coinciding with the Bitcoin (BTC) price’s continued decline. No Bitcoin exchange-traded fund (ETF) saw any form of inflow on Monday, June 24, contributing to a total outflow of $174.5 million across all ETFs. Withdrawals from spot Bitcoin ETFs have topped $1 billion in the last 10 days. 
Bitcoin exchange-traded funds (ETFs) have seen $545 million wiped out so far, and this week is only the beginning. Grayscale Bitcoin ETF <a href="https://thenewscrypto.com/massmutual-enters-crypto-realm-with-grayscales-gbtc-investment/" target="_blank" rel="noreferrer noopener">GBTC</a> had the most withdrawals on Monday, totaling $90.4 million, according to data from Farside Investors. With this, the total amount of money that has left GBTC since its start is approaching $18.5 billion. 
<h3 class="wp-block-heading" id="h-struggle-continues">Struggle Continues</h3> 
Outflows of $35 million hit Fidelity’s FBTC, the second worst on Monday. With an AUM below $10 billion, FBTC has been experiencing steady withdrawals since the middle of June. 
There have been withdrawals from a number of other Bitcoin ETFs since their launch, however <a href="https://thenewscrypto.com/u-s-bitcoin-etfs-see-226-2m-net-outflow-blackrocks-ibit-defies-trend/" target="_blank" rel="noreferrer noopener">BlackRock’s</a> IBIT remains completely unchanged. Having said that, there have been several recent cases when no inflows were recorded. 
The present sell-off, however, demonstrates that the initial enthusiasm for the spot Bitcoin ETFs’ debut seems to be dwindling. Additionally, due to the unpredictability of the global market, institutional interest in <a href="http://bitcoin.org" target="_blank" rel="noreferrer noopener nofollow">Bitcoin</a> has been declining. Withdrawals of $630 million were recorded last week from Bitcoin investment products. 
It is well-known that the introduction of spot Bitcoin ETFs in early 2024 caused Bitcoin to begin the year with strong gains. However, the recent outflow is a cause of concern as investors confidence in the asset is dwindling. 
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U.S Spot Bitcoin ETFs See Major Outflows Amid Ongoing BTC Price Dip

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