Bitcoin ETF

Bitcoin

Zero

Billion

<a href="https://bitcoinworld.co.in/bitcoin-etfs-outflows-exceeded-1-billion-with-zero-inflows-institutions-in-panic/" title="Bitcoin ETFs Outflows Exceeded $1 Billion With Zero Inflows, Institutions In Panic?" rel="noopener noreferrer nofollow"></a>
Bitcoin ETFs outflows have now exceeded $1 billion in the last ten days with zero inflows. The total outflows from Grayscale’s GBTC exceeded $18.4 billion since inception. BTC price flirts with $60,000.
<ul>
 <li style="font-weight: 400">Bitcoin ETFs recorded $170 million outflows with BlackRock’s IBIT recording zero inflows on Monday.</li>
 <li style="font-weight: 400">Bitcoin investment products saw over $600 million flowing out as institutional players panic.</li>
 <li style="font-weight: 400">Bitcoin’s underperformance with the US stock market continues as NASDAQ registers steady gains.</li>
</ul>
As the Bitcoin (BTC) price continues to hit lows, the spot Bitcoin ETFs in the US continue to witness major outflows for seven days in a row.&nbsp;
On Monday, June 24, the total outflows across all nine spot <a href="https://bitcoinworld.co.in/bitcoin-takes-a-beating-another-630-million-exits-price-drops-lower/" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs was $174.5 billion, with none of the ETFs recording any kind of inflows.&nbsp;
In the last ten days, the total outflows from the spot Bitcoin ETFs have exceeded $1 billion.
<h3 id="span-style-font-weight-400-bitcoin-etfs-continue-to-bleed-span">Bitcoin ETFs Continue to Bleed</h3>
After seeing $545 million in outflows, Bitcoin ETFs continue to bleed starting this week.&nbsp;
Contributing to Monday’s outflows, Grayscale Bitcoin ETF GBTC recorded the most outflows at $90.4 million, as per data from Farside Investors. This has brought the total outflows from GBTC since inception, almost closer to $18.5 billion.
<a href="https://www.fidelity.com/etfs/fbtc" rel="noopener noreferrer nofollow">Fidelity’s FBTC</a> suffered the second-biggest blow with $35 million in outflows on Monday. Since mid-June, FBTC has been seeing consistent outflows with the AUM dropping under $10 billion.
While several other Bitcoin ETFs have registered outflows, BlackRcok’s IBIT hasn’t recorded a single outflow since its inception. However, there have been multiple instances of zero inflows recently.
Well, this current sell-off clearly shows that the early excitement around the launch of the spot Bitcoin ETFs seems to be waning.&nbsp;
Also, Bitcoin institutional interest has been dropping with the global market uncertainty. Last week, Bitcoin investment products registered $630 million worth of outflows.
<h3 id="span-style-font-weight-400-bitcoin-underperforms-the-us-stock-market-span">Bitcoin Underperforms the US Stock Market</h3>
Amid the current BTC price correction, there’s been a huge divergence with the US stock market, especially the Nasdaq index.&nbsp;
As we know, Bitcoin kicked-off the year 2024 with impressive gains following the launch of spot Bitcoin ETFs. However, the Q2 has been more of a consolidation phase as the BTC price remains range-bound.
On the other hand, since mid-May, the NASDAQ continued to show a steady climb extending its year-to-date gains to more than 20%. This clearly shows that the tech stocks have an edge over Bitcoin.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Bitcoin started the year with a bang. It outpaced the stock market significantly thanks to the launch of the ETFs.
 But the recent trends show a divergence: • Bitcoin – Despite the early gains, BTC is now range-bound. • NASDAQ – Steady climb since mid-May, 20%+ returns YTD.… <a href="https://t.co/ER72ut4irj" rel="noopener noreferrer nofollow">pic.twitter.com/ER72ut4irj</a>
 — ecoinometrics (@ecoinometrics) <a href="https://twitter.com/ecoinometrics/status/1805277686157496476?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 24, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
For the Bitcoin price rally to continue, it needs a strong catalyst in the form of liquidity infusion. Any signal of Fed pivot could lead to a strong reversal on the upside.

Bitcoin ETFs Outflows Exceeded $1 Billion With Zero Inflows, Institutions In Panic?

Table of Contents

ItsBitcoinWorld

Другие статьи, опубликованные 26 июн. 2024 г.

Bitflow Unveils Liquidity Hub Upgrade, Enabling Functionality Like Ethereum DeFi

Bitget Launches Initial Listings for Blast (BLAST) token on Spot Market

Anonymous Bitcoiner Donates 8 BTC Worth Almost $500k To Help Julian Assange Return Home

Bybit Surpasses Coinbase, Becomes 2nd Largest Exchange Amid Binance Regulatory Woes

Altcoin Rally Won’t Happen Before February 2025, Predicts Popular Analyst

Gemz vs. Hamster Kombat: Two Crypto Games, Two Different Paths

Join our free newsletter for daily crypto updates!