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Bitcoin

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<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-2/" data-wpel-link="internal">Investors Withdraw Funds from Spot Bitcoin ETFs</a><br></p>
<p style="text-align: justify">Yesterday, spot <strong><a href="https://en.coin-turk.com/bitcoin-btc-price-continues-to-fall-how-far-will-it-drop/" data-wpel-link="internal">Bitcoin</a> ETFs</strong> experienced significant net outflows, indicating a notable trend in <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial markets</a>. For seven consecutive days, these investment vehicles have been witnessing withdrawals from investors. This is considered normal among market analysts as it coincides with a period of declines in Bitcoin prices.</p> 
<h2 style="text-align: justify" id="174-45-million-outflow-from-spot-bitcoin-etfs">$174.45 Million Outflow from Spot Bitcoin ETFs</h2> 
<p style="text-align: justify">According to <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> provided by SoSoValue, on June 24th, the net outflow from spot Bitcoin ETFs reached a significant figure of $174.45 million. This figure reflects the ongoing outflow trend. A substantial portion of the outflows came from Grayscale’s ETF <strong>GBTC</strong>, with a net outflow of $90.4295 million in just one day.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-364846 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-etf-2.png" alt="" width="1635" height="772"></p> 
<p style="text-align: justify">Other notable outflows included $35 million from Fidelity’s ETF FBTC and $21 million from Franklin’s Bitcoin ETF. Additionally, there were outflows of $10 million from VanEck, $7 million from Ark Invest, $8 million from Bitwise, and $2 million from Invesco. Interestingly, some major players like BlackRock, Valkyrie, Hashdex, and WisdomTree reported zero outflows that day, indicating varying levels of investor confidence among different funds.</p> 
<h2 style="text-align: justify" id="total-value-of-spot-bitcoin-etfs">Total Value of Spot Bitcoin ETFs</h2> 
<p style="text-align: justify">Currently, the total net asset value of spot Bitcoin ETFs stands at $51.53 billion. While this figure is significant, it has been affected by the recent withdrawal trend. Data from SoSoValue highlights that these ETFs have faced the largest outflows within a two-week period since their approval in the US in January. During this period, there has been a cumulative net outflow of $1.1 billion.</p> 
<p style="text-align: justify">I must mention that the reasons behind these outflows could be multifaceted. Market volatility and declines in Bitcoin prices are primary factors. Additionally, regulatory developments and changing investor strategies could all be contributing factors. However, it is possible to see that the outflows may not be continuous if there is a recovery in Bitcoin prices. At the time of writing, the flagship cryptocurrency Bitcoin is at the level of $61,084.</p> 
<ul class="Summary"> 
 <li>Spot Bitcoin ETFs saw significant net outflows yesterday.</li> 
 <li>Grayscale’s ETF GBTC had the largest outflow of $90.4295 million.</li> 
 <li>Current total net asset value of spot Bitcoin ETFs is $51.53 billion.</li> 
</ul> 
<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-2/" data-wpel-link="internal">Investors Withdraw Funds from Spot Bitcoin ETFs</a></h5>

Investors Withdraw Funds from Spot Bitcoin ETFs

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